Asian stocks stall, dollar wallops pound and yen
that Beijing would persist with its COVID-19 policies to avoid losing control over local coronavirus outbreaks.
Sterling rose 0.4% to $1.1008 in late Asian trade but there are broader concerns about the direction of policy in Britain. "I would have thought that by now it was something that should be universally understood that if you are making a military intervention in a country, it is a terrible idea to announce the deadline by which you will withdraw because it just provides a roadmap for your opposition and encourages them to wait you out."
Renewed U.S. dollar strength also sent the risk-sensitive Australian dollar to $0.6247, the lowest since April 2020.
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