The dollar index pared some of its gains on Wednesday as risk sentiment improved slightly during the European session after top U.S. regulators expressed confidence that banks were solvent. Hopes of easing banking concerns that could help the Fed go ahead with rate hikes to keep inflation under control is seen holding the dollar index. The dollar index that measures the greenback against a basket of currencies is quoting at 102.16, but off the day's highs, benefitting the other currencies. Benchmark US 10- year treasury yields came off a one-week high tested earlier in the day, weighing on the index. Euro came off lows and is seen at $1.0905 and sterling was quoting to $1.2362, up marginally on the day. However, the Japanese yen stayed sharply lower against the dollar as the USD/JPY counter stood at $131.85, up nearly 1% on the day.
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