US Inflation Soars as Asia Braces for Impact of Rising Prices and Rates
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U.S. inflation for March came in hotter than expected at 0.4% month-over-month and 3.5% year-over-year, sparking a sell-off in Asia markets.
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China's inflation figures will be closely watched when they are released on Thursday.
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South Korea's opposition parties won a landslide election victory, likely handicapping the agenda of President Yoon Suk Yeol.
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The Japanese yen hit a 32-year low against the U.S. dollar, crossing 153 before paring some losses.
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Hotter U.S. inflation has led some investors and strategists to take a more bearish view on the Fed's rate-cutting timeline.