Asia stocks slump as bond selloff spooks markets
© Reuters. FILE PHOTO: A man walks past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar, Euro and other foreign currencies outside a brokerage in Tokyo, Japan May 2, 2023. REUTERS/Issei Kato/File Photo
The spike in Treasury yields lifted the dollar to new heights with only the yen showing some fight amid speculation the Japanese authorities might be intervening behind the scenes. There was no confirmation from Tokyo, where Japan's finance minister and top currency diplomat have made no direct comment on the move. The yen last stood at 149.181 per dollar. [FRX/]
Since the move has not come with much of a shift in market gauges of inflation expectations, U.S. yields in real terms - subtracting inflation - are also at almost 15-year highs and are sucking money from all corners into dollars.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kellanova, WK Kellogg shares slump on first day after spinoff By ReutersKellanova, WK Kellogg shares slump on first day after spinoff
Read more »
Yen surges against dollar, leads some to suspect intervention By ReutersYen surges against dollar, leads some to suspect intervention
Read more »
Insulet CFO to step down, join 3M's healthcare business By ReutersInsulet CFO to step down, join 3M's healthcare business
Read more »
UPS and FedEx customers regain upper hand in delivery price battle By ReutersUPS and FedEx customers regain upper hand in delivery price battle
Read more »
US Treasury's Yellen says she is very optimistic about outlook for US Economy By ReutersUS Treasury's Yellen says she is very optimistic about outlook for US Economy
Read more »
Judge in Trump fraud trial imposes gag order after Trump lashes out at clerk By ReutersJudge in Trump fraud trial imposes gag order after Trump lashes out at clerk
Read more »