Oil Surge and Rising Yields Weigh on Currency Markets

The currency markets were subdued on Thursday as investors weighed the impact of rising oil prices and global bond yields.

Brent crude futures remained above $100 a barrel, exacerbating energy-induced inflation pressures that sent global bond yields upward.

The greenback found some relief, but the yen's powerful rally paused ahead of U.S. PPI and inflation readings.

Market attention now shifts to these key data releases, with investors expecting a rate hike from the Federal Reserve next month if inflation pressures remain sticky.