The greenback had sunk the previous day as Trump and trade adviser Peter Navarro criticised Germany, Japan and China, saying the trading partners were engaged in devaluing their currencies to U.S. disadvantage. The benchmark 10-year Treasury yield made an about-turn after dropping the previous day and was about 2.5 basis points higher on Wednesday. With Trump grabbing much of the headlines, the Federal Reserve's policy decision due later in the day was relegated to a side event. Rattled by factors including Trump's protectionist trade rhetoric and tough stance on migration, the dollar index lost 2.6 percent in January. China's offshore yuan was up 0.1 percent after rising about 0.4 percent the previous day.

Source: dna February 01, 2017 05:38 UTC