NEW YORK (CNNMoney.com) -- Bond prices fell Wednesday after a lackluster sale of 10-year notes and as traders turned towards riskier assets rather than the safe haven of bonds. The dollar fell against the euro and rose versus the yen.
The 10-year tumbled 20/32, or $6.25 on a $1,000 note, to yield 4.86 percent, up from 4.77 percent on Tuesday. The 30-year lost 1-6/32 to yield 5.02 percent, up from 4.93 percent in the previous session.
Bond prices and yields move in opposite directions.
The five-year fell 13/32 to yield 4.70 percent, while the two-year lost 4/32, yielding 4.64 percent.
Bonds extended earlier losses and moved to session lows after a weak auction of 10-year notes.
"The Treasury sale of $13 billion 10-year notes was below par," Lou Brien, a strategist with DRW Trading Group in Chicago, wrote in an e-mail note to Reuters.
Bonds continued their slide In late session trading as U.S. stocks climbed amid an ease on credit market fears and strength from both the housing and tech sectors.
Treasurys are still under pressure from the Federal Reserve's recent statement expressing confidence in economic growth, which have sent yields to their highest level in almost two weeks, Reuters reported.
The Fed statement hinted to bond investors that an interest rate cut might be further away than previously thought.
The central bank left interest rates unchanged at 5.25 percent. A cut in interest rates would have encouraged faster economic growth.
The Fed acknowledged that credit conditions had tightened for "some households and businesses," but said the predominant policy risk was that inflation would fail to moderate. The Fed said solid employment and income growth and a robust global economy would support moderate economic expansion.
In currency trading, the euro bought $1.3796, up from $1.3748 Tuesday. The dollar bought ¥119.73, up from ¥118.71.
-- from staff and wire reports 
