Hawkish Japanese policy rhetoric destabilises currency markets
Financial markets are kicking off December in a turbulent fashion as policy tightening hints from the Bank of Japan nudge global rates higher and dull the dollar’s appeal. Ten-year Treasury yields are up nearly four basis points, equity futures are pointing to small early declines, and the greenback is slipping against a broad basket of peers ahead of the North American open. The yen is outperforming its counterparts after Bank of Japan governor Kazuo Ueda appeared to lay the groundwork for a December rate hike. The currency advanced as much as 0.6 percent against the dollar this morning when Ueda...