Asian Currencies Consolidate as Treasury Yields Hit New Highs
Dow Jones
Sep 25
0129 GMT - Asian currencies consolidate against the dollar in early trade. Treasury yields continued to set fresh multiyear highs Thursday, on expectations that the Fed will raise interest rates in October. "Oil is adding another layer of pressure to the rates story," says MUFG Bank's Lloyd Chan in a report. Renewed geopolitical risks in the Middle East against an already tight oil-market backdrop are raising concerns over supply and inflation, Chan adds. The U.S. dollar is 0.1% lower at 158.63 yen and 0.4% higher at 4.0670 Malaysian ringgit. The U.S. dollar is little changed at 1.2786 Singapore dollars, LSEG data show.
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