and on Wall Street, as investors bet hotter-than-expected US inflation won’t stop the Federal Reserve and other central banks from cutting interest rates.
The dollar, euro, yen and pound were all little changed on the day, and though the yen looks ready to pounce if Japan finally raises interest rates next week, the dollar hasn’t moved by more than 1% in either direction since November. Benchmark US and European bond market yields that tend to drive global borrowing costs were at one-week highs after Tuesday’s US inflation upside surprise.
Bitcoin bustled to its third straight record high at $73,400 as crypto markets continued to sizzle ahead of what is known as a ‘halving’ where it effectively becomes tougher to mine the currency.Overnight, MSCI’s broadest index of Asia-Pacific shares outside Japan ended lower after touching its highest level since early August.
The benchmark S&P 500 climbed to a fresh record high on Tuesday as Oracle shares surged and slightly hot consumer price data failed to dampen investors’ hopes for interest rate cuts in the coming months.
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