Asian stocks dropped as the Japanese yen maintained its hold on its recent gains while bonds surged in value after Fed officials re-sparked the debate on the central bank’s timing with regards to its monetary policy adjustments in the future. Chicago Fed President Charles Evans stated that the Federal Reserve could raise its rates by up to four times this year, although his colleague, fellow Fed official Neel Kashkari states that the Fed could might as well take its time with regards to hiking its interest rates.
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