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

A man walks past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar, Euro and other foreign currencies outside a brokerage in TokyoSINGAPORE - 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.

The yield spike also cruelled the gold price, which fell to a seven-month low of $1,814 overnight and had investors turning wary of taking risks on stocks and other growth assets.

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerWall Street is sinking again under the weight of higher yields in the bond market.
Source: CTVNews - 🏆 1. / 99 Read more »

Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerNEW YORK (AP) — Wall Street is sinking again under the weight of higher yields in the bond market. The S&P 500 fell 0.5% early Tuesday and is back to where it was in June. The Dow fell 157 and the Nasdaq composite was down 0.6%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian shares mixed as Japan business confidence rises and US shutdown is avertedBANGKOK (AP) — Asian shares were mostly higher in thin trading Monday with many markets closed for holidays. Markets in China are closed for a weeklong holiday. Markets in South Korea also were closed. Oil prices gained and U.S. futures were higher as the threat of a U.S. federal government shutdown receded after Congress approved a temporary funding bill late Saturday to keep federal agencies open until Nov. 17. Japan’s Nikkei 225 index advanced after a central bank survey showed business confi
Source: YahooFinanceCA - 🏆 47. / 63 Read more »