The dollar index rebounded on Thursday following a sharp pull back in the previous session amid slight disappointment on lack of certainty of rate hike by Federal Reserve even as inflationary pressures mount, driven by heightened fuel prices as tensions between the US and Iran continue. US benchmark yields however continued to surge higher amid ongoing geopolitical tensions which is driving oil prices higher. Short-end yields stayed largely steady around 4.7% mark but long-end maturity yields climbed significantly. The U.S. 30-year Treasury yield hit a 19-year high of 5.237%. The Fed said on Wednesday that it will maintain rates at 350-375 basis points during the second monetary policy decision under new Chairman Kevin Warsh. Of the 12 members, three ' Beth M Hammack, Neel Kashkari, and Lorie K Logan ' voted to raise rates by 25 basis points. The dollar index that measures the greenback against a basket of currencies slipped by around half a percent to near one-week low of 100.60 before bouncing back to currently trade at 100.91.
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