The dollar strengthened against major peers and Treasuries fell amid speculation a stronger U.S. labor market means the Federal Reserve may raise rates sooner than previously anticipated. Asia’s benchmark equity gauge slipped from a six-year high and gold retreated with nickel.
The dollar gained 0.2 percent against the New Zealand currency by 10:44 a.m. in Tokyo, while the Bloomberg Dollar Spot Index was higher for a fourth day, the longest streak since May. The yield on 10-year Treasuries climbed two basis points. MSCI Asia Pacific Index (MXAP) slipped 0.2 percent to 147.38. Futures on the Standard & Poor’s 500 Index were flat and gold dropped 0.3 percent. Nickel fell 0.5 percent.
Goldman Sachs Group Inc. brought forward its estimate for U.S. interest-rate increases to the third quarter of 2015, saying the economy is “accelerating to an above-trend pace.” The Fed releases minutes of its last Open Market Committee meeting this week, while American markets resume today from a three-day weekend after stronger-than-forecast jobs reports on July 3. China issues inflation and trade data this week, while companies including Alcoa Inc., Fast Retailing Co. and Samsung Electronics Co. are due to report earnings.
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