the Japanese government had offered the job of central bank governor to current deputy Masayoshi Amamiya, viewed as less of a monetary policy hawk than his predecessor.The drama over the balloon, which Beijing has said was a civilian airship that accidentally strayed into U.S. airspace, further strained already-tense relations.
"Undoubtedly, the incident is a negative headline for the market," said Yuan Yuwei, hedge fund manager at Water Wisdom Asset Management.The Turkish lira bore much of the brunt of the risk-off mood, falling to a record low of 18.85 to the dollar, while the Thai baht posted its biggest one-day fall against the U.S. currency in over 20 years.
"The Fed is likely to remain in a tightening mode for longer than the markets currently anticipate at a time when President Erdogan strongly indicated he expects the Turkish central bank to cut interest rates," Matys said. Oil prices edged higher in choppy trading as markets weighed a return in demand from China against supply concerns and fears of slower growth in major economies curbing consumption.
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