Nikkei closes 1.3% higher due to impressive profits
The dollar weakened after Wednesday's figures for the first quarter showed fierce winter weather dragging on growth. That and persistent doubts about the
The holidays in most of continental
The combination of holidays and the start of a new month meant
"The reason (for high Eonia rate) is simply because it was month end yesterday," said one
"It will come down tomorrow, though the two day-run (of holidays) mean it probably won't be as straightforward as usual."
Asian markets wobbled only briefly after
The middling outcome was not enough to lessen concerns about the economy, but did not point to a deepening slowdown. There was also better news from
The conflicted mood was clear in the Australian dollar, often a bellwether for market thinking on
After an initial dip to
Sentiment had been supported by
That was a resilient performance given that data had shown the US economy grew just 0.1 per cent annualised in the first quarter, far below already gloomy forecasts of 1.2 per cent.
Net exports, inventories and investment all dragged on growth, with household spending the only bright spot.
But investors have been willing to give the economy the benefit of the doubt in expectations of a rebound this quarter, and other data did offer some supporting evidence.
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