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Fed Outlook Hits Bonds to Emerging-Market Currencies; Oil Climbs

  • Gold falls for a ninth day in longest selloff this year
  • Equity volumes below average amid U.S., U.K. holidays
A pedestrian looks at a quotation board flashing the Nikkei key index from the Tokyo Stock Exchange in Tokyo.
Photographer: Kazuhiro Nogi/AFP via Getty Images
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Anxiety over the prospect of a U.S. interest-rate hike as soon as June dominated global trading, battering government debt and most developing-nation currencies.

Emerging-market currencies extended losses from Friday, on track for their worst month since August against the dollar after Federal Reserve Chair Janet Yellen signaled Friday that a rate increase is likely some time in the coming months. Gold fell for a ninth day in its longest slump in a year, while Mexican bonds sank with German bunds amid a tumble in 10-year treasury futures. A gauge of global stocks held near a four-week high with trading volumes in the Americas and Europe more than 50 percent below their daily average amid market closures in the U.S. and the U.K. The yen slumped a second day.