Asian equities rose as US inflation eased, with the dollar sliding to its lowest level against major rivals in 15 months and US Treasury yields remaining near multi-week lows.

Gold experienced its best week in three months, while crude oil reached its highest level in nearly three months.

The stock market soared while the currency was under intense duress.

MSCI’s broadest index of Asia-Pacific equities excluding Japan increased by 0.7%, resulting in a weekly gain of 5.4%.

However, the Nikkei reversed early gains and closed 0.43 percent lower.

The US dollar index dropped 0.1% to 99.637, marking its lowest level since April 2018.

Two-year Treasury yields remained at 4.63 percent, while ten-year yields dropped 28 basis points from Friday’s eight-month high of 4.09 percent to 3.7 percent.

The 10-year yield in Japan attained its highest level since March 10, at 0.485%.

This month, the BOJ may expand the 10-year yield band.

The nomination of Reserve Bank governor Michele Bullock as deputy governor by the Australian government remained unaffected.

Brent crude futures rose 27 cents to $81.63, and WTI crude futures rose 35 cents to $77.53.