Asian shares struggled for traction and the dollar was subdued as the market focuses on the probability of a less aggressive Federal Reserve at its policy meeting which concludes on Wednesday.
expect China's central bank to cut the borrowing cost of medium-term policy loans for the first time in 10 months on Thursday, following a reduction in a short-term policy rate.showed prices barely rose in May, with just a 0.1% increase from the prior month. On an annual basis, consumer prices rose 4%, the smallest in more than two years, slowing from April's 4.9%.
Perhaps reflecting some of those concerns, two-year Treasury yields hit 4.7070% overnight, the highest since March, before easing 4 basis points to 4.6519% in Asian hours. in the three months to April could complicate matters for the Bank of England, which is set to debate its monetary policy decision next week.
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