Stable markets as bond yields rise
The global currency markets experienced stability amid rising U.S. Treasury yields, with 10-year bonds reaching their highest level since 2023. Meanwhile, the dollar index declined to 98.73 points, and the values of the euro and British pound increased, amid expectations that the Bank of Japan will raise interest rates to 1.25% next week. Oil prices climbed following attacks on maritime shipping between Washington and Tehran, raising concerns over potential supply disruptions and increasing global inflation. Additionally, the European Central Bank is expected to raise interest rates for the second time this year to combat rising energy costs, amid anticipation of U.S. inflation data and a 60% probability of rate hikes at the September meeting.
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