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* As the world's largest official bilateral creditor, China should participate in meaningful debt relief for countries facing problems, but it has served for too long as a "roadblock" to necessary action, Treasury Secretary Janet Yellen said in a major speech on U.S.-China relations on Thursday.

* Most Asian currencies fell on Thursday and the dollar steadied amid growing fears of more interest rate hikes by major central banks, while concerns over slowing economic growth also kept traders wary of risk-driven assets. The dollar index and dollar index futures were flat on Thursday, coming under pressure from gains in the euro and the pound following strong inflation reports in the UK and the euro zone.

* The U.S. dollar traded in a subdued fashion in early European trade Thursday, clinging on to overnight gains with expectations growing that the Federal Reserve will tighten monetary policy further next month. At 02:00 ET (06:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely flat at 101.662, after climbing 0.3% during Wednesday’s session.

* 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. The dollar index, which tracks the currency against a basket of its peers, was up 0.206% as markets turn more skeptical that the Federal Reserve will cut rates later this year.

* The euro and pound are being whisked along by a conveyor belt of interest rate hikes in Europe just as U.S. rates near a peak, a reversal of the trends that drove them to multi-decade lows last year. The two currencies have rallied 4-5% against the dollar since March as market ructions triggered by banking stress die down and signs of resilience in Europe's economies draw investors back.

Data inference

* No Major Event.

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