Dollar Hovers Near Multi-Month Lows Amid Easing Treasury Yields

The US dollar is hovering near multi-month lows against major peers as Treasury yields ease from recent highs. Investors are awaiting minutes of the Federal Reserve's latest policy meeting for clues on the path of interest rates.

The euro has inched up by 0.1% to $1.1585, staying close to a two-month high reached earlier this week. Sterling is also higher at $1.3538, holding near a three-month high ahead of British inflation data due later on Wednesday.

The Japanese yen has strengthened marginally to 159.32 per dollar, pulling away from the closely-watched 160 level after giving back much of its intervention gains.

A selloff in US Treasuries appears to have paused amid a week light on economic data or other obvious catalysts. Market participants are now looking for clues as to policymakers' views on interest rates from the Federal Reserve's release of minutes from the recent meeting of its monetary policy-setting Federal Open Market Committee.