Tokyo — Asian stocks were capped and the dollar rose to a one-week high in early Thursday trade after the minutes of the Federal Reserve’s latest meeting showed broad agreement among board members on the need to raise borrowing costs further. The spectre of rising US dollar yields, which along with global trade tension were at the centre of last week’s global equities rout, kept riskier appetite in check in Asia. MSCI broadest index of Asia-Pacific shares outside Japan fell 0.2%, while the Australian benchmark also dropped 0.2%. Japan’s Nikkei average was flat, and appeared to struggle for headway. Data out earlier in the day showed exports from the world’s third-biggest economy dropped for the first time since late 2016, hit by declines in shipments to the US and China. The dollar index and treasury yields rose to its highest levels in a week on Wednesday. The dollar index, which measures its value against six major peers, last traded at 95.654, little changed on the day, while 10-...

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