Asian shares trim weekly losses, dollar steady near 20-year highs

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Reuters

By Andrew Galbraith SHANGHAI (Reuters) – Asian shares trimmed losses on Friday after a volatile session for U.S. equities, while the dollar hovered near 20-year highs as investors continued to digest worries about persistently high inflation and tightening central bank policy. Those concerns ultimately overcame hopes on Wall Street that high inflation might be peaking, pushing the S&P 500 close to confirming a bear market on Thursday, at nearly 20% off its January all-time high. In an interview later in the day, U.S. Federal Reserve Chair Jerome Powell said that the battle to control inflation…

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