The dollar steadied largely on Wednesday while the yen remained near its 40-year low with little indication of a trend reversal.

The dollar index, which measures the U.S. currency against a basket of currencies, steadied at 101.11, while the yield on the two-year U.S. Treasury note rose to its highest in 17 months on Tuesday.

The euro edged up 0.02% to $1.1412, the Australian dollar fell 0.1% to $0.6989, and the New Zealand dollar slipped nearly 0.1% to $0.5811.

Sterling last traded at $1.3373, while the Japanese yen rose 0.02% to 163.1 against the dollar, erasing its gains, after sliding to 163.23 on Tuesday, its lowest since December 1986.