US economic data continues to surprise by showing strength, defying projections of a slowdown.
US benchmark 10-year yields reached 4.462%, the highest since October 2007, pushing the yen close to the psychological level of 150.
Fed Chair Jerome Powell is scheduled to speak later on Thursday, giving markets further clues into the future path of US monetary policy. The US dollar index, which measures the greenback against a basket of other major currencies, hovered around 106.58, after hitting 106.84 overnight, the highest level since Nov 30.The dollar/yen pair tends to be extremely sensitive to changes in long-term US Treasury yields, particularly at the 10-year maturity.
The Japanese currency has also been squeezed by a surge in oil prices, which on Wednesday marked their highest settlement in 2023 after a steep drop in US crude stocks compounded worries of tight global supplies.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar at 10-month top as US yields spike, yen slidesThe yen edges closer to 150 intervention zone ahead of the Bank of Japan policy meeting with political leaders.
Read more »
Ringgit opens little changed against US dollarKUALA LUMPUR: The ringgit was little changed against the US dollar this morning amid weak sentiment across Asian currencies and the ongoing China property market woes.
Read more »
Ringgit ends easier against US dollar, stronger versus other major currenciesKUALA LUMPUR, Sept 26 — The ringgit closed easier against the US dollar on better demand for the greenback as the US 10-year bond yields made new highs, said an analyst. At 6...
Read more »
Global equities fall as US Treasury yields, dollar stay elevatedNEW YORK, Sept 27 — A global equity index lost more than 1 per cent on Tuesday in a choppy trading session as fears of higher-for-longer interest rates ate into appetites for...
Read more »
Dollar rides Treasury yields higher, yen batteredMarket outlooks for US rate peaks shift as monetary conditions prove to remain tighter for an extended period.
Read more »