By Tom Westbrook SINGAPORE - Asian stocks struggled for headway on Wednesday while 10-year U.S. Treasury yields stood at 16-year highs as surging oil prices drive inflation and set the sceneMusicians, humour and stories galore help Bruce Guthro's Celebration of Life | SaltWireSINGAPORE - Asian stocks struggled for headway on Wednesday while 10-year U.S.
Benchmark 10-year Treasury yields hit their highest since 2007 at 4.371% overnight and were last at 4.36%. "The previous dot plot saw many participants expecting a cut in 2024. There is no reason for those dots to significantly move," said Sam Rines, managing director at research firm CORBŪ in Texas. Masato Kanda told reporters that Japanese authorities were always in close communication with U.S. counterparts and that he wouldn't rule out any options if"excessive moves persist."
The euro held steady at $1.0684. Commodity-exporters' currencies were firm, with the New Zealand dollar holding modest recent gains at $0.5940 after strong dairy price gains at an overnight auction. [NZD/]
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