US dollar gives up gains as Treasury yields stabilise

London

THE dollar on Tuesday fell back from 3½ month highs as US Treasury yields stabilised, allowing room for riskier currencies such as the pound, Australian dollar and Kiwi dollar to make gains.

The index that measures the dollar's strength against a basket of other currencies was 0.4 per cent lower by midday in London, at 92.003, after hitting a 3½ month high of 92.506 during Asian trading hours.