Key Points
TOKYO (Reuters) The dollar held on to fresh highs on Tuesday, pushing the yen down closer to an intervention zone, after strong U.S. economic data bolstered the view that the Federal Reserve will keep interest rates higher for longer...
The dollar also got a boost from rising U.S. Treasury yields as the upbeat economic news underpinned the higher-for-longer Fed rates views, while the last-minute deal that averted a government shutdown reduced demand for U.S. debt...
A batch of strong U.S. economic data over recent weeks has strengthened expectations that the Fed will keep rates elevated for a longer period, with several policymakers warning of the risk of more tightening if inflation doesnt keep slowing as expected...
The selloff of U.S. Treasury bonds is the talking point of financial markets, said Carol Kong, economist and currency strategist at Commonwealth Bank of Australia, and a trend that likely will continue as long as U.S. economic data remains strong...
The rally in the dollar has put further pressure on the yen, pushing it closer to the psychologically significant 150-level overnight that markets view as a line in the sand for Japanese authorities that could spur intervention as it did last year...
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