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By Lisa Twaronite and Nichola Saminather TOKYO/SINGAPORE (Reuters) - Asian shares recovered from a wobbly start on Tuesday, but remained on track for a monthly loss, while the dollar edged away from recent peaks scaled on expectations the U.S. Federal Reserve will raise interest rates as soon as next month. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, poised to end the month down 1.9 percent. Japan's Nikkei stock index slipped 0.5 percent after rallying 1.4 percent in the previous session.
Chicago will be able to spread out state-mandated higher payments to its police and fire pensions after the Illinois Legislature on Monday overrode the governor's veto of a bill that became entangled in a political impasse. The Senate voted 39-19 and the House voted 72-43 to undo Republican Governor Bruce Rauner's veto on Friday that the city claimed would lead to a $300 million property tax hike. The bill gives Chicago short-term budget relief but will add to the city's big pension funding gap.