The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labour market boosted the case for quicker Federal Reserve rate cuts.
Oil prices rose on Thursday underpinned by a spike in fuel demand as a major storm barrelled into Florida and concerns about potential supply disruptions in the Middle East amid heightened tensions between Israel and major oil producer Iran.
The U.S. dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day.
Most Asian stocks drifted higher on Thursday with focus on key U.S. inflation data for more cues on interest rates, while Chinese markets logged wild swings as Beijing flagged plans for more fiscal stimulus measures.
Most Asian stocks rose on Wednesday with technology shares tracking gains in their U.S. peers, while Chinese markets fell sharply as investors were disappointed by a lack of details on more stimulus measures.
Oil prices edged up on Wednesday as developments in the Middle East took centre stage against cautious demand expectations and ahead of a government meeting on China's fiscal policy.