Against the yen, the US currency fell to less than 150 in Asian trading, and its price reached 149.97 yen in the latest transactions, which gave the Japanese currency some time to breathe a sigh of relief after it remained near the lowest level in three months in previous sessions.
Previously, traders saw reaching the 150 level as a threshold that could lead to intervention by Japanese authorities as was the case in late 2022.
The dollar's decline came against the backdrop of a decline in US Treasury bond yields in line with their global counterparts.
This occurred on the heels of lower-than-expected Canadian inflation data and euro zone wage growth, all of which pushed domestic bond yields lower as expectations increased that global central banks would cut interest rates this year.
The Canadian dollar rose in the latest trading to a limited extent to 1.35085 against the US dollar, while the euro rose 0.06 percent to 1.0814 dollars.
The dollar index fell by 0.05 percent to 103.99 points.
The minutes of the US central bank's most recent meetings will provide further evidence about expectations regarding interest rates.
“The overall conclusion of the central bank meeting minutes should be that it is not yet time to start cutting interest rates,” said Vishnu Varathan, an economist at Mizuho Bank.
As for the British pound, it rose 0.11 percent to $1.2634, but it remained somewhat far from its highest level in a week, which it recorded yesterday, Tuesday, at $1.2668. It retreated from this level following comments about monetary easing from Bank of England Governor Andrew Bailey.
Bailey said he felt comfortable with investors betting on a cut in interest rates this year, but pointed to signs that the British economy is rebounding after slipping into recession in late 2023.
His comments caused the pound to fall to its lowest level against the euro in about a month and British bond yields fell.
While the Australian dollar rose 0.27 percent to $0.6567, and the New Zealand dollar increased 0.4 percent to $0.61905.
The Chinese yuan rebounded to its highest level in nearly three weeks, supported by a broad decline in the dollar. In the latest transactions, it reached 7.1863 against the dollar.
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