Forex
US Dollar Drifts Near Multi-Month Lows Amid Eased Treasury Yields
The US dollar hovered near multi-month lows against major peers on Wednesday as Treasury yields eased from recent highs. Investors are awaiting minutes of the Federal Reserve's latest policy meeting for clues on interest rates.
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.
A Harvinder Kalirai, chief global fixed income and currency strategist at Alpine Macro, said that if the Fed does not follow through with rate hikes, the upside for bond yields should be very limited here.