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Asia stocks gain, dollar sags on Fed governor's dovish comments

A man looks at an electronic board showing the Japanese yen's exchange rate against Euro outside a brokerage in Tokyo, Japan, July 6, 2016. REUTERS/Issei Kato

Asian stocks rose on Tuesday after Federal Reserve Governor Lael Brainard calmed global markets with remarks that appeared to reduce the prospects of a near-term interest rate hike.

The dollar, on the other hand, nursed losses against its peers after Brainard reiterated her dovish views and warned against a rush to raise rates.

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