U.S. 20-year bond yields hit their highest since November 2023 of 5.127% following the auction. The dollar consequently extended loses against the euro and yen.

A woman holds a sign supporting Harriet Tubman for the $20 bill during a town hall meeting at the Women's Rights National Historical Park in Seneca Falls, N.Y., on Aug. 31, 2015.

The dollar fell against a broad swathe of currencies on Wednesday, undermined by worries about the Trump administration's tax cut and spending bill, as well as a weak 20-year Treasury bond sale ...