The US Dollar Index sees a mild decline for Wednesday, slipping back past the 107.00 level.
Downside momentum likely to remain limited as US Treasury yields, US economic data continue to hold on the high end.
The DXY is up 3.2% on the year, 7.25% from 2023's lows.
The US Dollar Index (DXY) saw some minor declines on Wednesday, with the major currency index declining around 0.3% for the mid-week trading session.
The Dollar Index has drifted away from the week's eleven-month high at 107.35, but downside moves are likely to remain limited as the DXY remains bolstered by rising US Treasury yields and an overall healthy economic outlook for the US economy, albeit with a few hotspots.
Forex Today: Dollar slides but still rules
US Treasuries saw continued upside for Wednesday, with the 10-year Treasury yield hitting 4.88% during the day's trading, a seventeen-year high.
US ADP employment data showed an 89K uptick in private payroll positions, far below the forecast 153K, but jobs are still being created in the US economy.
Next up on Thursday will be US Jobless Claims, and investors will be looking ahead to Friday's Non-Farm Payrolls (NFP), which is forecast to show a minor downtick from 187K to 170K
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