Asian stocks drop after recent gains

<p>Asian stocks were down on Thursday.</p>

Asian stocks experienced a drop today (March 7th) following a couple of days of growth.

Investors have been focusing on meetings of the central banks of the UK and the euro zone for indications of more policy stimulus after it was announced the Bank of Japan is keeping policy on hold.

Speaking to Reuters, Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo, explained the dollar is taking "centre stage".

He added it is "likely to become the sole winner because growth is solid while monetary conditions are lax and stocks are renewing record highs".

But Japan's Nikkei stock average bucked the Asian trend, reaching its highest point since late September 2008.

It was up to sight of the 12,000 mark, which was helped by a record closing on Wall Street.

Stan Shamu, market strategist at IG Markets, noted it is interesting that the US dollar is currently trading as an investment currency.

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