Asian stocks, dollar rise on U.S. economic optimism

Asian stocks inched higher on Wednesday and the dollar held near an eight-week peak against a basket of currencies, spurred by upbeat U.S. economic data and yet another record close for the S&P 500. "Not only did the S&P print a record high, it also closed right at the highs, which is a positive sign and says a lot about momentum," Stan Shamu, market strategist at IG in Melbourne, said in a note to clients. The Federal Reserve's commitment to continue to support the world's biggest economy and indications the European Central Bank (ECB) will take easing steps to prop up sluggish growth in the euro zone have also calmed investor nerves.

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