Dollar slips as dovish Fed speak dials down rate expectations
© Reuters. FILE PHOTO: Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File Photo
The euro was up 0.1% in early Asia trade to $1.0580. The Israeli shekel steadied at 3.95 to the dollar, just off an almost eight-year low, after the central bank promised $30 billion in foreign exchange selling. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the Fed funds rate," said Dallas Fed president Lorie Logan -- a notable shift from previously hawkish rhetoric.
Ten-year Treasury yields, which have been zooming, dived more than 13 basis points to 4.63% at the open in Tokyo on Tuesday on both rates relief and a safe-haven bet after the cash market had shut for Columbus Day on Monday.
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