Dollar Slides Near Multi-Month Lows Amid Treasury Yield Declines
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, remaining close to the two-month high touched earlier this week.
Sterling was a touch higher at $1.3538, holding near a three-month high ahead of British inflation data due later on Wednesday, which is widely expected to show persistent price pressure.
The Japanese yen also strengthened marginally to 159.32 per dollar, pulling away from the closely-watched 160 level after giving back much of its intervention gains.
The yield on the benchmark US 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, as market participants await the Federal Reserve's release of minutes from the most recent meeting of its monetary policy-setting Federal Open Market Committee.