Dollar rally pauses as U.S. yields fall

The dollar fell on Wednesday as a fall in U.S. yields paused momentum for its rebound and traders resumed bets that it would drop.

10-year U.S. Treasury yield benchmark dropped almost 7 basis points from a 10-month peak on Tuesday and the turnaround cut a three-day streak for the greenback.

Against the euro, the dollar reported its biggest daily drop in over a month. It also fell over 1% against the pound.

The Aussie and the kiwi rose from one-week troughs, with the Aussie standing at $0.7680 and the kiwi at $0.7226.

The dollar dropped to 103.63 against the Japanese yen, while the Chinese yuan stood at a one-week high offshore.

The euro was steady at $1.2208 and the dollar index sat at 89.991 following a 0.5% drop on Tuesday. The pound hit a one-week peak of $1.3680.