Dollar Mildly Lower as Sentiments Lifted by Optimism on Fiscal Cliff

Dollar Mildly Lower as Sentiments Lifted by Optimism on Fiscal Cliff

Asian equities are mostly higher on the positive tone struck by US president Obama after meeting with congress leaders last Friday over the issue of fiscal cliff. Obama affirmed again when he started his Asia trip and said that he's confident to get the "fiscal situation dealt with". Most major currencies are higher against dollar as the week starts on positive sentiments and Aussie is so far the comparatively stronger one. Meanwhile, the Japanese yen edged lower to seven month low against dollar as BoJ meeting starts. Markets are generally expecting more easing from BoJ after December election. But for now, BoJ will stand pat this week first.