Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Oil prices tread water in Asian trade on Thursday after clocking sharp losses in the prior session on fears of higher-for-long U.S. interest rates, while a bigger-than-expected build in U.S. inventories also weighed. 

The dollar was soft on Thursday as traders assessed the U.S. interest rates outlook in the wake of comments from Federal Reserve officials that cemented expectation of monetary settings remaining restrictive for a while longer.

Most Asian stocks moved in a flat-to-low range on Wednesday amid waning expectations for U.S. interest rate cuts, while Chinese markets advanced amid some signs of economic recovery. 

Euro zone exports jumped in February and the bloc's trade surplus widened, adding to recent indicators suggesting that the bloc is now past the worst of its economic malaise and a slow rebound is underway, Eurostat data showed.

Britain's labour market lost a bit more of its inflationary heat, data showed on Tuesday, offering some relief to the Bank of England, but stubborn underlying problems continued with wage growth still high and more people dropping out of the workforce.