Dollar Lingers Near Multi-Month Lows Amid Slowing Yields

The US dollar continues to hover near multi-month lows against major peers on Wednesday as Treasury yields ease from recent highs.

Investors are awaiting the release of minutes from the Federal Reserve's latest policy meeting for clues on the path of interest rates. The euro has inched up 0.1% to $1.1585, remaining close to its two-month high touched earlier this week.

Sterling is a touch higher at $1.3538, holding near a three-month high ahead of British inflation data due later on Wednesday.

A selloff in U.S. Treasuries appears to have paused amid a week light on economic data or other obvious catalysts. The yield on the benchmark U.S. 10-year Treasury note extended declines and was last at 4.686%, while that on the 30-year bond fell to 5.268% from its highest in nearly 20 years.

Market participants now turn to the Federal Reserve's release of minutes from the most recent meeting of its monetary policy-setting Federal Open Market Committee, looking for clues as to policymakers' views on interest rates.