Dollar Slumps as Treasury Yields Ease Ahead of Fed Minutes

The US dollar has been drifting near multi-month lows against major peers on August 19th. Treasury yields have eased from recent highs, causing investors to wait for minutes of the Federal Reserve's latest policy meeting.

The euro is trading at $1.1577, close to a two-month high reached earlier in the week. The sterling pound has remained relatively unchanged at $1.3533, holding near a three-month high ahead of British inflation data due later on Wednesday.

The Japanese yen is little changed at 159.56 per dollar, having given back much of its intervention gains but still far off a multi-decade low of around 164 yen per dollar. The dollar index, which measures the US currency against six major peers, has decreased slightly to 99.65.

Market participants are now looking for clues on interest rates from the Federal Reserve's release of minutes from its most recent meeting later in the day.