Currency markets treaded water in cautious trading on Thursday as investors weighed a fresh surge in oil prices and global bond yields, while the yen's powerful rally also took a breather ahead of U.S. PPI and inflation readings.
Brent crude futures remained firmly above $100 a barrel after breaching the level on Wednesday, as Iran and the U.S. engaged in the biggest wave of attacks on shipping by both sides since the start of the war, threatening to worsen the disruption of energy supplies from the Middle East.
