Dollar Gains as Oil Prices Fuel Global Yields

Currency markets were subdued on Thursday as investors weighed a fresh surge in oil prices and global bond yields. The dollar ticked higher against major currencies, reversing some of this week's losses triggered by rising oil prices and global bond yields.

The euro fell after the European Central Bank delivered an expected rate increase, with the ECB raising interest rates for the second time this year to quell an energy-driven rise in inflation triggered by the Iran war.