Dollar regains overnight losses as U.S. yields steady

The dollar climbed on Wednesday, gaining back some of its overnight losses as U.S. yields hit support after dropping from one-year highs.

Risk currencies like the Aussie and the kiwi fell after acquiring large gains on Tuesday. The euro fell 0.2% to $1.18815 after recovering from a 3 ½-month low of $1.18355 on Tuesday.

Against the yen, the dollar rose 0.3% to 108.780. The dollar index closely tracked a spike in Treasury yields in the past weeks, which triggered safe-haven demand.

The 10-year Treasury yield firmed at 1.54% on Wednesday in Asian trade following a three-day fall from a one-year peak of 1.6250%. 

The dollar index stood 0.2% higher at 92.147 in Asia on Wednesday after dropping from a 3 ½-month high of 92.506 overnight.

The Aussie slid 0.4% to $0.7684 after rising 1% overnight, while the kiwi dipped 0.4% to $0.7146.