The Australian dollar is sliding towards a fourth consecutive monthly loss and at $0.6492 is barely above last week's seven-month lows.
Aussie stocks (.AXJO) are eying their worst month since February with a 2.4% drop.
Based on these factors, we raise our end-2023 targets for Japanese stocks, to 2,300 for TOPIX and 32,500 for the Nikkei 225."
Benchmark 10-year yields dropped 12.4 basis points overnight and fell another 1.5 bps on Wednesday in Asian trade to 3.6808%.
The drop in yields put a pause in what looks to be the U.S. dollar's best monthly rally since February.
Persons:
stockmarkets, Carol Kong, Masashi Akutsu, Joe Biden, Treasuries, Philip Lowe, Sam Holmes
Organizations:
Nikkei, Commonwealth Bank of Australia, of America, Republican, Brent, Thomson
Locations:
China, Asia, Japan, SINGAPORE, Pacific, U.S, United States