Dollar Boosted

Asian shares fell, as a rise in U.S. bond yields above 3 percent and warnings from bellwether U.S. companies of higher costs drove fears that a boom in corporate earnings may be near its peak.

The dollar inched up on Wednesday, approaching its recent four-month high as the U.S. 10-year bond yield poked above 3 percent to hit its highest level since early 2014. The greenback had risen without pause through much of the past week as U.S.-China trade conflict woes receded and allowed the market to turn its attention back to dollar-supportive fundamentals, notably the surge by U.S. yields. The spreads between U.S. yields and those of its European and Japanese counterparts have widened significantly amid diverging monetary policy expectations.

In currencies, the euro stood at 1.2226, not far from weekly lows of 1.2182, USDJPY traded at 108.87 yen after having jumped to a 2-1/2-month high of 109.20.

In Commodities Oil prices were stable, but were below the more than three-year highs reached the previous session as rising U.S. fuel inventories and production weighed on an otherwise bullish market. Brent fetched 73.86 a barrel, little changed on the day. Yesterday it rose to 75.47, its highest since 2014. Crude Oil traded flat at 67.68.

Forex market economic calendar is light today in the forex market, with low to moderate expected volatility and price action for the major currency pairs. There is a speech by the Boc Governor Poloz, which could move the Canadian Dollar.