U.S. dollar rallies amid rising Treasury yield

NEW YORK, April 25 (Xinhua) -- The U.S. dollar index increased against other major currencies in late trading on Wednesday as the 10-year U.S. Treasury yield rose above the psychologically important 3-percent level.

The benchmark 10-year Treasury yield traded firmly above 3 percent on Wednesday after breaking above 3 percent for the first time since 2014 on Tuesday.

The yield, a barometer for mortgage rates and other financial instruments, has jumped in April on signs of rising inflation.

Analysts said that higher yield reflects higher expected interest rates, which commonly support a currency.

There is no major economic data due on Wednesday.

The dollar index, which measures the greenback against six major peers, increased 0.46 percent at 91.186 in late trading.

In late New York trading, the euro decreased to 1.2178 dollars from 1.2237 dollars in the previous session, and the British pound was down to 1.3936 dollars from 1.3972 U.S. dollars in the previous session. The Australian dollar fell to 0.7564 dollar from 0.7598 dollar.

The U.S. dollar bought 109.37 Japanese yen, higher than 108.69 Japanese yen of the previous session. The U.S. dollar increased to 0.9829 Swiss franc from 0.9787 Swiss franc, and it was up to 1.2849 Canadian dollars from 1.2832 Canadian dollars. Enditem