Following the Federal Reserve’s decision and Chair Jerome Powell’s statement indicating skepticism about the likelihood of a policy easing in March, there are signs that officials are not rushing to lower rates. In response to Powell’s comments and renewed concerns about regional lenders, Treasuries maintained most of their gains during Asian trading, with the yield on the 10-year note registering a 12 basis points decline in the previous session. A gauge of dollar strength experienced a slight dip, and among the Group-of-10 currencies, the yen emerged as the top performer. In the commodities market, oil remained relatively stable in Asian trading, concluding its first monthly gain since September amid escalating tensions in the Middle East. Meanwhile, gold continued its upward trajectory, advancing for the fourth consecutive day.
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