LONDON—The dollar held below two-week highs on Wednesday as traders awaited the release of minutes from the Federal Reserve’s December meeting, with growing expectations of a rate hike as early as March keeping the yen pinned near a five-year low.
While the greenback’s nearly 3 percent rise in the past two months on the back of rising U.S. Treasury yields fizzled this week, traders were wary of adding more bullish dollar bets before the release of the minutes.
