Dollar droops, gold at record high as bets for big Fed cut ramp up
50-bp Fed cut back on table after FT, WSJ reports
Odds on super-sized reduction ramp up to 41% from 28%
Dollar slides back towards 2024 low versus yen
Crude continues climb as Francine impact assessed
Updates prices as of 0155 GMT
By Kevin Buckland
TOKYO, Sept 13 (Reuters) -The dollar on Friday slumped against the yen while gold hit an all-time peak as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials.
Shares in Asia also advanced after traders raised bets back to 41% for a 50-basis point U.S. rate cut on Sept. 18, according to LSEG data at 0155 GMT, from about 28% before articles in the Financial Times and Wall Street Journal each called the decision "a close call".
"This is yet another twist in the (Fed rate cut) debate," said Tony Sycamore, an analyst at IG, noting the tug-of-war being played out in bond futures and the dollar-yen rate in particular.
"Everybody thought we were back on track for 25 basis points, and now 50 is suddenly back on the table."
The dollar dropped 0.41% to 141.225 yen JPY=EBS, heading back towards Wednesday's low at 140.71, the weakest level this year.
The yen has also been supported this week by hawkish comments from Bank of Japan officals, with policy board member Naoki Tamura on Thursday saying he was "worried that upside inflation risk was heightening."
The dollar index =USD, which measures the currency against the yen and five other major rivals, dropped to a one-week trough at 101.03.
The euro EUR=EBS added 0.09% to $1.1084, building on Thursday's 0.57% advance after European Central Bank President Christine Lagarde pushed back on prospects of a rate cut in October, following a widely expected quarter-point reduction on Thursday.
Gold XAU= extended Thursday's 1.9% climb to reach a fresh record high of $2,567.93, buoyed by the dollar's weakness.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rallied 0.53%.
Hong Kong's Hang Seng .HSI led advances in regional markets, gaining 1.13%. Mainland Chinese blue chips .CSI300 added 0.24%. Australia's benchmark .AXJO climbed 0.31%. South Korea's Kospi .KS11 was flat.
Japanese stocks underperformed, though, dragged lower by the stronger yen, with the Nikkei .N225 losing 0.48%.
Japan, mainland China and South Korea are all heading into long weekends, with Tokyo back on Tuesday, China on Wednesday and South Korea not until Thursday.
U.S. stock futures EScv1 were flat following gains on Thursday for the cash indexes.
Crude oil continued to climb after surging around 2% overnight, as producers assessed the impact on output after Hurricane Francine tore through the Gulf of Mexico.
U.S. West Texas Intermediate crude futures CLc1 rose 0.54% to $69.34 per barrel, building on Thursday's 2.5% rally. Brent crude futures LCOc1 added 0.47% to $72.31, after a 1.9% jump in the previous session.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Global asset performance http://tmsnrt.rs/2yaDPgn
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Kevin Buckland; Editing by Sam Holmes and Shri Navaratnam
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
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