GLOBAL MARKETS-Stocks jump after Fed, US data; yen strengthens

[admin]

A gauge of global stocks climbed on Thursday after the Federal Reserve indicated it was leaning toward a dovish stance, while the dollar retreated against the yen after another suspected round of intervention by the Bank of Japan. On Wall Street, U.S. stocks closed with solid gains, after Fed Chair Jerome Powell said that while recent inflation readings mean it will likely take longer than expected for central bank officials to become comfortable that inflation will resume its decline, interest rate increases also remained unlikely. Markets have consistently scaled back the timing and amount of rate cuts this year from the Fed as inflation has proved to be sticky and the labor market remains on solid footing.