Asian Currencies Broadly Weaken as Treasury Yields Surge
Dow Jones
Sep 24
0140 GMT - Asian currencies broadly weaken against the dollar, after Treasury yields rose sharply overnight. The 10-year Treasury yield jumped to 5.113% on Wednesday, the highest level since 2007. Stronger U.S. growth, rising inflation risks and stronger oil prices have "created a toxic combination for bonds, driving yields sharply higher across the curve," MUFG Bank's Lloyd Chan says in a report. The U.S. dollar rises 0.25% to 4.0870 Malaysian ringgit and gains 0.1% to 31.825 New Taiwan dollars, while the Australian dollar is 0.1% lower at US$0.7032, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.