Asia stocks hit 11-month low, yen spike stirs intervention talk

NS fans turn up for Crosby's homecoming | SaltWireSINGAPORE - Asian stocks fell to a 11-month low on Wednesday after another piece of resilient U.S. economic data sent Treasury yields to fresh highs, while a sharp rise in the yen had traders speculating that Japanese authorities stepped into the market.

"The jump in job openings suggests the U.S. labour market is easing less rapidly than implied by recent data releases, vindicating the Fed's recent message that rates will remain higher for longer," said NAB FX strategist Rodrigo Catril. Most of the focus, however, was on the dollar/yen pair, which has been under pressure from the growing gap between rising U.S. yields and anchored Japanese rates. It recoiled almost instantly after spiking to 150.165.

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Asia stocks hit 11-month low, yen spike stirs intervention talkBy Tom Westbrook SINGAPORE (Reuters) - Asian stocks fell to a 11-month low on Wednesday after another piece of resilient U.S. economic data sent ...
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Asia stocks hit 11-month low, yen spike stirs intervention talkAsian stocks fell to a 11-month low on Wednesday after another piece of resilient U.S. economic data sent Treasury yields to fresh highs, while a sharp rise in the yen had traders speculating that Japanese authorities stepped into the market. The yen breached the 150-per-dollar level before suddenly shooting to 147.3. There was no confirmation from Tokyo, where Japan's top currency diplomat made no direct comment on the move.
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