Key Points
SINGAPORE (Reuters) Asian shares fell on Tuesday after Federal Reserve officials cemented the view that U.S. interest rates are likely to remain elevated for some time, while the yen slid to near a one-year low, putting traders on watch for intervention from Japanese authorities...
I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2% in a timely way, Fed Governor Michelle Bowman said Monday in prepared remarks to a banking conference...
Australias S&P/ASX 200 index was 1.27% lower, while the Australian dollar eased 0.16% to $0.635 ahead of the policy decision from the Reserve Bank of Australia later on Tuesday, where the central bank is expected to hold rates steady...
In the foreign exchange market, the focus remains on the Japanese yen as the currency inches closer to the 150 per dollar mark a level traders have speculated could lead to intervention from the authorities...
Last September, Japanese authorities conducted their first intervention in 24 years, when the yen weakened past 145 per dollar, and speculation has mounted that they will step in again with the yen under constant pressure due to a yawning yield gap against the dollar...
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