Asian currencies mostly weakened during the Asia trading session, according to market data cited by ChainCatcher from Gate. The move came as the yield on the 10-year U.S. Treasury briefly climbed above 5% before closing at 4.96%.
Analysts said the rise in yields was driven by inflation concerns and elevated oil prices. In the foreign-exchange market, the U.S. dollar gained 0.3% against the Japanese yen to 154.82 and rose 0.45% against the South Korean won to 1,353.14. The Australian dollar, by contrast, slipped 0.15% against the U.S. dollar to 0.7126.
The figures point to broad pressure on Asian currencies during the session, alongside a jump in benchmark U.S. yields.
Asian currencies mostly weakened during Asia trading hours, according to Gate market data cited by ChainCatcher.
The yield on the 10-year U.S. Treasury briefly surged above 5% and closed at 4.96%. Analysts said the rise in yields was driven by inflation concerns and high oil prices.
In currency moves, the U.S. dollar rose 0.3% against the Japanese yen to 154.82, gained 0.45% against the South Korean won to 1,353.14, and the Australian dollar fell 0.15% against the U.S. dollar to 0.7126.
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