Dollar Weakness Fuels Gains in Asian Currencies

The US dollar hovered near multi-month lows on Wednesday as Treasury yields eased after a recent surge. The US Dollar Index was last down 0.2% at 99.48 by 03:01 ET (07:01 GMT), remaining near its lowest level since early June.

Treasury yields eased, with the U.S. 10-year yield retreating to 4.68%, and the 30-year yield slipping to 5.27%. This retreat from recent highs put pressure on emerging-market assets.

The Fed kept its benchmark rate in a 3.50%-3.75% range at its July 29 meeting in a 9-3 vote, with the dissent underscoring divisions among policymakers. Markets have been focused on whether the July Fed meeting minutes will reinforce expectations that the central bank could keep rates higher for longer or deliver a hike this year.