Yen Drops Amid Broad Dollar Rally, Fed Confirms Rate Check

The yen had its worst day this month amid a broader selloff in major currencies as US economic data supported higher Treasury yields and reduced bets on Federal Reserve interest-rate cuts in the months ahead.

The yen led losses among the Group-of-10 after the New Zealand dollar, falling 1% versus the greenback to 154.81 in New York. The Bloomberg Dollar Spot Index gained 0.5%, while the 10-year Treasury yield rose two basis points to 4.09%.