Japanese index futures fell as the yen maintained its rebound from a six-month low amid concern the U.S. budget deal will give the Federal Reserve confidence to reduce stimulus. Copper futures slipped and Australia’s dollar traded at a five-year low versus New Zealand’s currency.
Representative Jeb Hensarling, chairman of the U.S. House committee that oversees the Federal Reserve, said he plans to subject the Fed to unprecedented scrutiny while considering legislation over the coming year that may focus on its structure, mandates and powers.
U.S. stocks fell a second day, giving the Standard & Poor’s 500 Index its biggest back-to-back drop in two months, as a congressional budget accord fueled speculation the Federal Reserve could trim stimulus next week.
U.S. stocks fell the most in a month and Treasuries dropped on speculation the budget agreement will make the Federal Reserve more confident to reduce stimulus. Gasoline and oil slid while the yen and euro strengthened.