On Wednesday, the U.S. dollar reached a nearly one-week high versus a basket of currencies as Treasury yields increased and investors' desire for riskier currencies decreased in the wake of disappointing corporate reports that heightened concerns about the direction of the economy.

A decrease in risk appetite was caused by the tech giant Alphabet (NASDAQ:GOOGL) falling after its cloud division failed to meet revenue projections. Rising U.S. Treasury yields also contributed to the decline in other mega-cap stocks.

The dollar index that gauges the greenback versus its major pairs added 0.3% at 106.5, its peak in almost a week.

An increase in U.S. bond yields has engulfed global financial markets, pushing the dollar index to its highest level in over a year earlier this month.

With the Japanese yen trading at 149.99 per dollar last time, traders were on the lookout for any indications that Japanese authorities would step in. The dollar also kept the yen pegged close to the heavily watched 150 level.