Dollar Near Multi-Month Lows as Treasury Yields Slip Ahead of Fed Minutes
The US dollar has hovered near multi-month lows against major peers on Wednesday as Treasury yields eased from recent highs. The Federal Reserve's minutes from its latest policy meeting are expected to provide clues on interest rates.
The euro inched up 0.1% to $1.1585, holding close to the two-month high touched earlier this week. Sterling was a touch higher at $1.3538, near a three-month high ahead of British inflation data due later Wednesday.
A selloff in U.S. Treasuries has 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 later in the day, looking for clues as to policymakers' views on interest rates.