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The U.S. central bank could even be forced to raise rates to ensure the pace of inflation remains on a downward trajectory and does not bounce back, Goldberg said. Markets also imply about an 80% probability the European Central Bank (ECB) will cut rates by April, while the Bank of England (BoE) is seen easing in August. An outlier is Australia's central bank, which is considered likely to resume raising rates at a policy meeting on Tuesday as inflation there stays stubbornly high. The head of the central bank said on Monday it was closer to achieving its inflation target, but it was still not enough to end ultra-loose policy. The drop in the dollar and yields has helped underpin gold, as investors have cautiously turned back to riskier assets.

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Hopes for lower borrowing costs overnight helped shares in Asia, which missed out on Friday's rally that was inspired by the U.S. jobs data. DOLLAR DROPSTwo-year Treasury yields , which reflect interest rate expectations, rose 5.9 bps to 4.891% after falling 18 bps last week. The recent retreat in Treasury yields pulled the rug out from under the dollar last week. The dollar index, a measure of the U.S. currency against six others, was steady at 105.07 after sliding 1.4% last week. U.S. crude rose 1.73% to $81.90 per barrel and Brent was at $86.07, up 1.39% on the day.

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[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The sharp move lower suggested the Bank of Japan had intervened in the market to keep the yen from falling further. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. "The continued uptrend in UST-JGB encouraged the 150 to be breach in the wake of the better-than-expected JOLTS data. The dollar slipped 0.51% against the yen to 149.08 after hitting 150.165 on the JOLTS report.

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[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Investors fear a government default as early as June 1 if Congress fails to resolve the deadlock. Our calculation shows she's not incorrect," said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA LLC in New York. "Treasury yields I would argue came down too much too soon." The dollar edged higher against major currencies, with the dollar index up 0.168%.

REUTERS/Brendan McDermidTOKYO, May 9 (Reuters) - A gauge of global equities fell on Tuesday after weak Chinese trade data sparked concerns about China's domestic demand recovery, while the impasse over the U.S. debt ceiling sparked a sharp sell-off in short-dated Treasury bills. Investors fear a government default if Congress fails to resolve the debt ceiling deadlock as early as June 1. Longer-dated Treasury yields were little changed as investors waited for key U.S. consumer price inflation data on Wednesday. The dollar edged higher against major currencies, with the dollar index up 0.256%. Gold prices edged higher as some investors sought cover from economic uncertainty, including the debt ceiling deadlock.

The Swedish crown weakened sharply after the country's central bank was less hawkish than expected, while the euro rebounded 0.65% from losses on Tuesday when jitters over U.S. regional banks buoyed the safe-haven dollar. But the market expects further rate hikes from the European Central Bank, a difference with the Fed that is driving currency moves. The euro rose 1.05% against the crown to a high of 11.426, set for its biggest one-day gain since early March. Sterling was last trading at $1.2462, up 0.44% on the day, while the yen strengthened 0.28% at 133.34 per dollar. Investor attention will firmly be on the slate of central bank meetings in the next few weeks with the Bank of Japan, under the new Governor Kazuo Ueda, holding its policy meeting later this week.

TOKYO, April 19 (Reuters) - The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March and put more pressure on the Bank of England to keep raising rates. "We still think that over the medium- to long-term that the dollar is going to continue to come under considerable amounts of pressure. Wednesday data showed British consumer price inflation eased less than expected in March to 10.1% from February's 10.4%, meaning Britain has western Europe's highest rate of consumer inflation. Deutsche Bank on Wednesday revised up expectations for British rates to include two more 25 basis point rate hikes from the Bank of England. Currency bid prices at 2:42PM (1842 GMT)Reporting by Kevin Buckland; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

S&P Global's Flash U.S. Composite Output Index last month rose to 46.6, below a reading of 50 where growth begins. Companies reported soft demand amid still high inflation that remains a headwind to customer spending, the report showed. The S&P 500 and Nasdaq closed slightly lower after bellwethers including 3M (MMM.N), Johnson & Johnson (JNJ.N), Verizon (VZ.N) and GE (GE.N) reported mixed results. The Dow rose as Traveler Cos (TRV.N), American Express (AXP.N) and JPMorgan Chase provided almost half its gains. The Dow Jones Industrial Average (.DJI) rose 0.31%, the S&P 500 (.SPX) lost 0.07% and the Nasdaq Composite (.IXIC) dropped 0.27%.

The major bourses in Europe also declined as concerns mounted about a global slowdown before a raft of major central bank rate decisions next week. The dollar gained against the euro, yen, British pound and Canadian dollar, among other major currencies. Treasury yields fell, but more at the long end of maturities than the short end, which deepened the inverted yield curve, a market indicator of a looming recession. The dollar rose as investors waited for next week's expected 50 basis points rate hike by the Fed. Euro zone government bond yields fell after two European Central Bank officials signaled inflation and rates may be close to peaking in the run-up to a raft of major central bank decisions.

The higher rate helped strengthen the dollar and weaken gold prices as other central banks also are expected to hike rates this week. But a rally this time is unlikely when policymakers conclude a two-day meeting on Wednesday, he said. Markets also indicate a real chance that rates could hit 4.5% as the Fed is forced to tip the economy into a recession to subdue inflation. "Asset performance during this Fed tightening cycle is very different from the norm for other rate hike episodes," said David Chao, a global market strategist at Invesco. read moreChina's central bank went its own way though, and cut a repo rate by 10 basis points to support its ailing economy.

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