Singapore — Asian stocks advanced on Friday, set for their best week since July, while the dollar continued the slide that began after the Federal Reserve indicated it was unlikely to speed up monetary tightening. The dollar index, which tracks the greenback against a basket of six trade-weighted peers, retreated 0.1% to 100.26. It hit a five-week low on Thursday, and is down almost 1% for the week. The dollar was steady at ¥113.32 but is on track to post a 1.2% loss for the week. While the Fed raised interest rates by 25 basis points on Wednesday, it kept to its original forecast of three rate increases in 2017, disappointing investors who were expecting a bump up to four. US treasury yields, which slid after the decision, staged a recovery on Thursday and continued to rise on Friday. The 10-year yield was at 2.5402%, from its last close of 2.524%. "The story in global markets over the past 24 hours has centred on a broad-based tightening of monetary policy conditions (and the perc...
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