Asian shares up but set for weekly loss after hawkish Fed

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By Andrew Galbraith SHANGHAI (Reuters) – Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023. While the Fed messaging indicated no clear end to supportive policy measures such as bond-buying, signals of faster-than-expected rate hikes indicated concerns about inflation as the U.S. economy recovers from the COVID-19 pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan was barely above water in morning t…

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