Dollar Drifts Near Multi-Month Lows Amid Easing Treasury Yields
The US dollar hovered near multi-month lows against major peers on Wednesday as Treasury yields eased from recent highs. The euro inched up 0.1% to $1.1585, holding close to its two-month high touched earlier this week.
Sterling was a touch higher at $1.3538, maintaining its position near a three-month high ahead of British inflation data due later on Wednesday. This data is widely expected to show persistent price pressure.
The Japanese yen strengthened marginally to 159.32 per dollar, moving away from the closely-watched 160 level after giving back much of its intervention gains.
Market participants are now looking towards the release of minutes from the Federal Reserve's latest policy meeting, seeking clues on policymakers' views on interest rates. Recent data has pointed to a softer US economy, including unexpected job losses in July and mild inflation readings, leading investors to scale back rate-hike bets.