The
dollar solidified its climb, surging against emerging-market currencies
and holding near a 13-year high against the yen amid mounting
speculation U.S. interest rates will be increased as soon as September.
Japanese stocks advanced with copper, while crude oil retreated.
The
greenback was at 125.54 yen by 9:20 a.m. in Tokyo, after touching its
strongest level since June 2002 on Friday. The Korean won and Malaysian
ringgit slid at least 0.9 percent, while Turkey’s lira sank to a record
low after the ruling party failed to win a majority in elections.
Japan’s Topix index rose 0.2 percent, while the MSCI Asia Pacific Index
traded at a nine-week low as Korean shares fell. U.S. futures were
little changed. U.S. oil lost 0.8 percent. Copper rose a second day.
Odds
the Federal Reserve will boost benchmark rates in September rose to 33
percent after the best U.S. jobs report in five months, from 27 percent
beforehand. Investors are now looking ahead to retail sales data due
later in the week. Japan’s first-quarter growth was revised up in final
figures Monday, with China to report on trade. Group of Seven leaders
called for action over Greece at the weekend, with talks between the
indebted nation and its creditors resuming Monday.
Employers
in the U.S. added 280,000 workers to nonfarm payrolls in May, following
April’s 221,000 increase. Economists had projected a climb of 226,000.
The jobless rate rose to 5.5 percent from 5.4 percent. The data came a
day after the International Monetary Fund questioned whether inflation
was robust enough to warrant the first U.S. rate rise since 2006. The
lender also expressed concern over the strong dollar.
Australian markets were closed for a holiday Monday.
Source : Bloomberg
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