Dollar Drifts Near Lows as Treasury Yields Ease, Fed Minutes Awaited

The US dollar has been drifting near multi-month lows against major peers on Wednesday, as Treasury yields eased from recent highs.

Investors are now awaiting the release of minutes from the Federal Reserve's latest policy meeting for clues on the path of interest rates.

The euro inched higher to $1.1577, remaining close to the two-month high touched earlier this week.

Harvinder Kalirai, chief global fixed income and currency strategist at Alpine Macro, said that if the Fed does not follow through with rate hikes, 'the upside for bond yields should be very limited here'.