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International Business Times
International Business Times
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AFP News

Most Of Asia Tracks Wall St Down As US Data Dents Rate Cut Hopes

United States Inflation US Federal Reserve BOJ the Federal Reserve
The dollar's rise back above 150 yen for the first time since November has prompted Japanese officials to warn they were keeping a close eye on movements in forex markets (Credit: AFP)

Most Asian equities sank Wednesday, tracking a sell-off on Wall Street, as a forecast-topping US inflation report dealt a hefty blow to hopes for an early interest rate cut.

The dimming prospects of a dovish turn by the Federal Reserve also sent the dollar surging against the yen, forcing Japanese officials to warn they would intervene in forex markets to support the country's currency.

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