The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week.
The dollar index versus a basket of six major peers added 0.1 percent to 93.335 .DXY after rallying to 93.457 overnight, its highest since Dec. 22.
The 10-year Treasury yield had hovered around 3 percent since reaching the threshold late last month on concerns about rising inflation and a ballooning federal budget gap. But until Tuesday, 3 percent level wasn't convincingly broken.
The euro was 0.1 percent lower at $1.1823 EUR= after brushing $1.1817, its weakest since late December. The dollar was little changed at 110.300 yen JPY=, having risen to 110.450 overnight, its strongest since Feb. 5.
Source : Reuters