Asia shares pause as Fed warns against exuberance

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Reuters

By Wayne Cole SYDNEY (Reuters) – Asian share markets were taking a breather on Monday after last week’s sweeping rally as a top U.S. central banker warned investors against getting carried away over one inflation number, nudging up bond yields and the dollar. A modest miss on U.S. inflation was enough to see two-year Treasury yields dive 33 basis points for the week and the dollar lose almost 4%, the fourth biggest weekly decline since the era of free-floating exchange rates began over 50 years ago. However, the resulting easing in U.S. financial conditions was not entirely welcomed by the Fed…

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