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Dollar lifted by yield surge, Asia stocks slugged
The dollar notched an 11-month top on the yen on Thursday as stunningly strong U.S. economic data drove Treasury yields to their highest since mid-2011, while Asian stocks were pressured as borrowing costs rose at home. Bond prices fell across Asia and long-term Japanese yields reached ground not visited since early 2016, a market tightening not warranted by domestic economic conditions. MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.1 percent in response, with South Korea, the Philippines, Indonesia and Taiwan all down.
https://finance.yahoo.com/news/dollar-scales-11-month-peak-004749272.html?.tsrc=rss
The dollar notched an 11-month top on the yen on Thursday as stunningly strong U.S. economic data drove Treasury yields to their highest since mid-2011, while Asian stocks were pressured as borrowing costs rose at home. Bond prices fell across Asia and long-term Japanese yields reached ground not visited since early 2016, a market tightening not warranted by domestic economic conditions. MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.1 percent in response, with South Korea, the Philippines, Indonesia and Taiwan all down.
https://finance.yahoo.com/news/dollar-scales-11-month-peak-004749272.html?.tsrc=rss
