* Markets still react to Trump remarks on dollar, rates
* Wall Street equity indexes little changed
* Oil futures mixed, treasury yields pull off lows
(Updates to U.S. open, adds commentary, changes byline,
previous dateline LONDON)
By Sinead Carew
NEW YORK, April 13 The U.S. dollar rebounded on
Thursday after sliding a day earlier following remarks by
President Donald Trump on the currency and interest rates, while
a consumer sentiment survey helped lift U.S. Treasury yields off
The benchmark S&P 500 stock index was modestly higher as
strength in U.S. technology and financial stocks offset declines
in sectors like energy and consumer staples.
The U.S. dollar had tumbled Wednesday after Trump told the
Wall Street Journal the greenback "getting too strong" and would
eventually hurt the U.S. economy. Treasury yields fell after
Trump said he would like to see interest rates stay low.
"Clearly, I think (the dollar) was oversold yesterday," said
Peter Ng, senior currency trader at Silicon Valley Bank in Santa
Clara, California. "The market was very sensitive to headlines
given how nervous it has become due to geopolitical risk."
Trading was thinner than usual during an abbreviated week,
with the impending holiday for Good Friday in the United States
and Europe, Ng said.
The dollar index, which tracks the greenback against
a basket of six trade-weighted peers, was up 0.4 percent, after
a 0.6 percent decline on Wednesday marked its biggest one-day
fall in three weeks.
The dollar was up 0.2 percent at $109.22 against the
Japanese yen, having hit a five-month low of 108.73 yen
in early Asian trading.
YIELDS OFF LOWS
U.S. Treasury yields hit session highs, pulling away from
five-month lows earlier in the day, after a University of
Michigan survey showed U.S. consumer sentiment unexpectedly
improved in early April.
Before the data, Trump's favorable view of low interest
rates had intensified this week's bond market rally that was
underpinned by geopolitical worries.
The yield on benchmark 10-year Treasury notes was
2.264 percent, down 3 basis points from late on Wednesday. It
touched 2.218 percent earlier in the day, the lowest since Nov.
The MSCI all-world stock index was little
changed with a 0.01 percent increase.
U.S. stocks were little changed as investors assessed the
first rush of bank earnings and Trump's remarks on the dollar's
strength and interest rates.
The Dow Jones Industrial Average rose 9.12 points, or
0.04 percent, to 20,600.98, the S&P 500 gained 2.26
points, or 0.10 percent, to 2,347.19 and the Nasdaq Composite
added 17.86 points, or 0.31 percent, to 5,854.02.
The S&P 500 bank subsector was boosted by stronger
than expected earnings at JPMorgan Chase and Citigroup
. However, Wells Fargo & Co was a drag with a 1.5
percent decline after it reported a big drop in mortgage banking
The FTSEurofirst 300 index of large companies was down 0.4
percent, putting it on track for a loss for the
In commodities, oil prices were mixed after the
International Energy Agency (IEA) said the market was nearing
balance, but U.S. data showed higher production. U.S. crude
was down 0.2 percent to $53.04 a barrel, while global
benchmark Brent was up 0.3 percent at $56.02.
Gold fell 0.09 percent to $1,284.90 an ounce after
hitting a five-month high earlier in the session.
(Additional reporting by Dion Rabouin in New York, Jamie
McGeever, Abhinav Ramnarayan in London; Editing by Bernadette