On Wednesday, the dollar gained strength fueled by growing anticipations that the Federal Reserve would postpone rate cuts until later this year, particularly in anticipation of significant inflation readings due this week. Concurrently, the yen softened to its lowest point in four weeks.
Moreover, the dollar's ascent was supported by increasing Treasury yields following an uninspiring debt auction for two-year and five-year notes, raising concerns about the demand for U.S. government debt.
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