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SINGAPORE - Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen.
" said that he is confident policy is restrictive and that if progress on inflation stalled, the would hold off on cutting, implying a high bar to hiking," said Goldman Sachs economist David Mericle. Demand will be tested at a $58 billion three-year note auction on Tuesday, which is followed by $42 billion in 10-year sales on Wednesday and $25 billion of 30-year sales on Thursday.
The Australian dollar was steady at $0.6637 in morning trade. Swaps market pricing implies a near even chance of a rate hike later this year in Australia.
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