Asia tracks Wall St losses as US data deals blow to rate cut hopes

Hong Kong (AFP) April 11, 2024

Asian markets reversed Thursday after forecast-topping US inflation dealt a hefty blow to hopes for a June interest rate cut and forced traders to re-evaluate the outlook for monetary policy, with a warning that the next move could even be a hike. The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fuelling speculation Japanese authorities w