Currency Markets Steady as Oil Price
Shock Rattles Sentiment

Hong Kong, 10 Sep 2026 (ONA) — Currency
markets held steady in cautious trading today as investors weighed the latest
surge in oil prices and global bond yields, while the yen’s powerful rally
paused ahead of US producer price and inflation readings.

Brent crude futures remained above
$100 a barrel after breaching that threshold on Wednesday.

Fresh inflationary pressures from
the energy crisis pushed global bond yields back onto an upward trajectory,
with the benchmark 10‑year US Treasury yield climbing to its highest since
2023, as a longer‑term bond buyback programme fell short of expectations.

The dollar drew modest support,
nudging the euro and sterling slightly lower to $1.1633 and $1.3547
respectively.

This also halted the yen’s ascent to
a seven‑month peak. The Japanese currency last traded marginally lower at
153.70, having been confined to a narrow range ahead of an expected rate hike
in Japan next week.

The dollar index, which tracks the
US currency against a basket of peers, reached 98.81, edging away from a
three‑week low.

The New Zealand dollar rose 0.2
percent to $0.5848, while the Australian dollar steadied at $0.7215.

The offshore Chinese yuan held firm
at 6.705 per dollar, hovering near its strongest level in nearly four years
after data showed producer and consumer inflation accelerating in China amid
rising energy costs.

— Ends/Khalid