U.S. Treasury yields declined slightly after a series of U.S. economic reports, which mostly suggested ebbing economic momentum, supporting the view the Federal Reserve could soon begin cutting interest rates.

The data included a report showing first-time applications for U.S. unemployment benefits drifted lower last week, but the number of people on jobless rolls jumped to a 2-1/2 year high in mid-June.

Traders are waiting for Friday's U.S. personal consumption expenditures (PCE) data, which is the Fed's preferred inflation measure and could help traders determine the outlook for the Fed's interest rates.

The yen was last up slightly against the U.S. dollar, but remained near its weakest in 38 years versus the dollar, keeping investors on alert for any sign of intervention from Japanese authorities to prop up the currency.

Japan's finance minister has said he would take any necessary action on currencies, and that Japanese authorities were "deeply concerned" about the effect of the yen's drop on the economy.

The Japanese yen strengthened 0.21% against the greenback at 160.49 per dollar.

The dollar index, which measures the greenback against a basket of currencies, fell 0.22% at 105.82, with the euro up 0.28% at $1.0709.

Wall Street's major stock indexes mostly dipped, with chipmaker Micron Technology shares down 6% after a disappointing revenue forecast late Wednesday. An index of semiconductors was down 1%.