On Wednesday, the US dollar and the British pound rose, while the rand and yuan remained stable.

The U.S. dollar rose on Wednesday, alongside Treasury bond yields, which in turn kept the yen under pressure after the latest US inflation report showed signs that President Donald Trump's tariffs were beginning to affect prices. The rise of the dollar was particularly marked against the yen, with the Japanese currency reaching its lowest level in four months, at 149.03 yen, overnight. The dollar was trading at 148.90

In addition, the Australian dollar rose 0.02% to $0.6517 after falling 0.45% on Tuesday. The New Zealand dollar rose by 0.17% to $0.5955

The pound rose slightly against a falling dollar, while falling against the euro, as investors assess the possibility of the Bank of England (BoE) lowering rates faster than the current rate of 25 basis points per quarter. The pound rose 0.05% to $1.3390, after reaching $1.3397 on Tuesday, its lowest

The Chinese yuan remained stable against the dollar on Wednesday, an official midpoint that was firmer than expected offsetting the pressure exerted by the rise in the American currency to a multi-week high due to reduced bets on an impending Federal Reserve rate cut. The spot yuan opened at 7.1800 per dollar and was last traded at 7.1815 at 02:26 GMT, which was 5 pips lower than the previous session's close and 0.4% lower than the midpoint

The offshore yuan traded at 7.184 yuan per dollar, down about 0.01% in Asian trade.

The South African rand was little changed in early trading on Wednesday, ahead of the country's retail sales data being released later in the day. At 06:59 GMT, the rand was trading at 17.89 against the dollar, about 0.2% higher than the close on Wednesday