Asian stocks up on hopes Fed will adopt slow approach to more hikes

The yield on benchmark 10-year Treasury notes touched 4.0556% compared with its U.S. close of 4.073% on Thursday. The two-year yield , which rises with traders' expectations of higher Fed fund rates, rose to 4.8913%compared with a U.S. close of 4.904%.

In currencies, the dollar index , which tracks the greenback against a basket of currencies of other major trading partners, was down at 104.86. The index is now up more than 1% for the year, but still down from a September high around $114. The dollar eased 0.15% to 136.55 yen , after climbing to 137.10 overnight, the highest since Dec. 20.

The euro rose 0.08% to $1.0602, after moving off a nearly two-month low of $1.0533 at the start of the week. In the energy market, oil prices remained firm, boosted by signs of a strong economic rebound in top crude importer China and easing worries of aggressive U.S. rate hikes.Gold was slightly higher. Spot gold was traded at $1839.95 per ounce.

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