The rapid wage growth underscored the case for a more aggressive tightening by the Fed
But firming expectations that the Fed could raise rates as soon as March and several times this year is pushing up U.S. yields and the currency.
Since adopting a new approach to US monetary policy weighted towards ensuring a strong labor market, Federal Reserve officials have been reluctant to define key terms like "maximum employment"
As stocks struggled, U.S. Treasury yields on most maturities rose again on Thursday as investors fretted over the Fed's more hawkish stance, surging inflation and a deluge of supply.
Ten-year treasury yield crosses 1.75%, on track for its biggest weekly rise since 2020
Indian markets mirrored global sell-off after the US Federal Reserve's minutes indicate sooner and faster-than-expected rate hikes
The world's largest cryptocurrency was last at $42,700, down 1.7%, having lost 5.2% on Wednesday. A break below last month's trough of $42,000 would make it the weakest since September
Spot gold was down 0.2% to $1,805.98 per ounce by 0430 GMT. U.S. gold futures fell 1% to $1,806.40
Stocks extended declines after the release of the minutes on Wednesday, led by a selloff in technology and growth shares
The Fed minutes from December, released on Wednesday, offered more details on the Fed's shift last month toward a more hawkish monetary policy
TOKYO (Reuters) - The dollar hovered near a five-year high to the yen on Thursday, supported by a surge in U.S. Treasury yields on rising bets for a Federal Reserve rate hike by March.
Federal Reserve may need to hike rates faster, reduce balance sheet quickly. More on that in today's top headlines
The US dollar rose for a fifth straight day against the Japanese yen on Tuesday, hitting a five-year high
The US dollar reached its strongest level in more than a month against the Japanese yen on Tuesday
The dollar index, which measures the currency against six major rivals, was up 0.177% at 96.223.
A key inflation measure closely watched by the US Federal Reserve increased at the fastest pace in 39 years in November, raising pressure on the central bank to tighten monetary policy.
The recent FII outflows can also be viewed as a year-end phenomenon and a possible knee-jerk reaction to recent events, Bhave said
Global stock markets and Wall Street futures tumbled Monday amid concern about the latest coronavirus variant and tighter Federal Reserve policy. London and Frankfurt opened sharply lower. Shanghai, Tokyo and Hong Kong also fell at the start of a trading week that will be shortened by Christmas. Benchmark US oil fell by more than $3 per barrel. The spread of the omicron variant has fuelled fears that renewed curbs on business and travel might worsen supply chain disruptions and boost inflation. Omicron threatens to be the Grinch to rob Christmas, Mizuho Bank's Vishnu Varathan said in a report. The market prefers safety to nasty surprises. In early trading, the FTSE 100 in London fell 1.7% to 7,143.60 and the DAX in Frankfurt lost 2.4% to 15,155.71. The CAC 40 in Paris sank 2% to 6,787.68. On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average lost 1.5%. On Friday, the S&P fell 1% as traders took money off the table after the Fed indicated .
Asian stock markets followed Wall Street lower on Monday amid concern about the coronavirus's latest variant and tighter Federal Reserve policy. Shanghai, Tokyo, Hong Kong and Sydney retreated at the start of a trading week that will be shortened by the Christmas holiday. Wall Street fell Friday as traders took money off the table after the Fed indicated it would fight inflation by speeding up withdrawal of economic stimulus. The spread of the omicron variant has fueled fears that renewed curbs on business and travel might worsen supply chain disruptions and boost inflation. Omicron threatens to be the Grinch to rob Christmas, Mizuho Bank's Vishnu Varathan said in a report. The jury is out, which squares with a market that prefers safety to nasty surprises. The Shanghai Composite Index fell 0.5 per cent to 3,613.50 and the Nikkei 225 in Tokyo tumbled 1.7 per cent to 28,055.28. The Hang Seng in Hong Kong sank 0.9 per cent to 22,976.86. The Kospi in Seoul retreated 1.4 per cent to
The US dollar hovered near the highest since July of last year against major peers after a Federal Reserve official signaled a first pandemic-era interest rate hike could come as early as March