Asian stocks fell on Wednesday and the yen's continued depreciation prompted the Bank of Japan to conduct an operation often seen as a precursor to currency intervention, as investors shunned riskier assets amid increasing uncertainty about the global economic outlook.
The dollar index consolidated following Tuesday's impressive rally and the two-year U.S. Treasury yield scaled a new 15-year high, as hotter-than-expected U.S. inflation data boosted bets that the Federal Reserve will stay aggressive in raising rates.
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