Most Asian currencies firmed on Friday, while the dollar nursed losses after the Federal Reserve cut rates by a wide margin and kicked off an easing cycle. 

Most Asian stocks rose on Friday, tracking overnight gains on Wall Street as investors cheered a bumper interest rate cut from the Federal Reserve.

The dollar bounced, long-dated bond yields were up and Asian stocks rose after the U.S. Federal Reserve announced a 50-basis-point rate cut and flagged that its easing cycle would be measured.

Bitcoin’s price rose on Thursday after the Federal Reserve cut interest rates by a wide margin and signaled the beginning of an easing cycle, although further gains were limited by a less dovish outlook. 

Gold prices moved in a flat-to-low range in Asian trade on Thursday, and were nursing overnight losses after less dovish signals from the Federal Reserve offset some optimism over a bumper rate cut. 

Oil prices fell in Asian trade on Thursday following a mixed reading on U.S. oil inventories, while an outsized interest rate cut by the Federal Reserve sparked some concerns over a slowing economy.