The U.S. dollar rose against the yen for a second straight day and hovered near its highest level in roughly 10 weeks against the euro on Wednesday on expectations for a Federal Reserve rate hike in the near term.
The dollar was last up 0.1 percent against the yen at 110.13 yen, near a session high of 110.45 yen, as traders continued to anticipate a potential June or July Fed rate increase. The euro was last mostly higher against the dollar after dipping slightly to match Tuesday's roughly 10-week low of $1.1129.
Fed funds futures contracts implied traders expected a 38 percent chance of a rate hike in June, up from a 34 percent chance on Tuesday, according to CME Group's FedWatch program.
Investors' expectations for a Fed rate hike have risen since last week's minutes from the central bank's April meeting signaled a June increase was firmly on the table, while hawkish remarks from Fed officials this week and some stronger U.S. economic data also ratcheted up bets.