Europe News: European stocks opened higher on Thursday, following a decrease in oil prices and softer US labor data. Asian shares also rebounded from 11-month lows
The 10-year benchmark bond yield was at 7.2442% as of 10:00 a.m. IST after hitting 7.2612%, its highest since April 18, earlier in the session. The bond closed the previous session at 7.2327%.
Federal Reserve Bank of Minneapolis President Neel Kashkari was one among several Fed voices to caution markets on the possibility of more hikes, saying on Wednesday that ample evidence of ongoing economic strength meant that more tightening might be in the pipeline.
KUALA LUMPUR: The ringgit continued its downtrend to push past 4.70 against the greenback today amid concerns over the higher-for-longer US interest rate outlook, said an analyst.
The U.S. dollar index - which measures the currency against six major developed market peers, including the euro and yen - ticked up 0.05% to 106.00, after reaching 106.10 overnight for the first time since Nov. 30.