Asian shares dip; euro weighed by sagging German business morale

TOKYO: Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week.

In the currency market, the dollar index, which measures the greenback versus a basket of six major rivals, rose to as high as 98.189 overnight, its highest level since May 2017. The index was last quoted at 98.133. U.S. Treasury yields fell across maturities on Wednesday as investors piled into the safe-haven asset after a slew of weak international economic data.

Oil prices hovered below six-month highs after data showed U.S. crude stockpiles surged to their highest levels since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.

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