Fed on interest rates

May 19: The dollar rose as high as 124.03 yen in late trade in Tokyo, its highest level since November 30, after the Fed said yesterday it was leaving interest rates unchanged but adopting a quot;tightening biasquot; 8211; an inclination towards higher rates.

European bonds opened lower, with the yield on the 10-year bund rising to 4.115 per cent. U.S. Treasury futures were marginally higher in automated trade after falls yesterday.