Not only has this AI rally turned the two South Korean chipmaking giants into stock market darlings and trillion-dollar firms, it has also thrust their employees into the top tier of the country's highly competitive marriage market.
Oil prices are back where they were before war broke out in the Middle East at the end of February. That could help ease some inflationary pressure. No one seems to have told bond traders though, who are still pricing in at least one rate hike from the Federal Reserve this year.
Those rate-hike bets have led the dollar to a more than one-year high against a basket of currencies, with the yen hovering near 40-year lows. It last fetched 161.73 per U.S. dollar and a break beyond 161.96 would be its lowest since 1986.
The spotlight will turn to U.S. inflation data, the Personal Consumption Expenditures price index, that could perhaps push the yen beyond those levels and to the brink of another round of intervention from Tokyo.
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