By Niket Nishant and Jiaxing Li

Aug 19 (Reuters) - The U.S. dollar slipped against major peers on Wednesday as a selloff in Treasuries eased, with investors counting on minutes from the Federal Reserve's latest policy meeting to ‌offer fresh guidance later in the day.

A light data calendar this week has left markets hungry for catalysts, potentially ‌putting greater emphasis on the minutes.

The document is expected to offer a comprehensive read on policymakers' thinking at a time when Fed Chair Kevin Warsh has ​been reticent on the rate outlook and renewed Middle East tensions are adding to the unease.

The euro rose 0.31% to $1.1611, remaining close to the two-month high touched earlier this week. Sterling was 0.22% higher at $1.3562 after data showed UK inflation in July rose in line with expectations.

The Japanese yen also strengthened 0.35% to 159.04 per dollar, pulling away from the closely watched 160 level after giving back much ‌of its intervention gains.

"Japan is struggling with ⁠structural problems. But I think the central banks have a strong incentive to keep the yen orderly," Tom Samuelson, chief investment officer at Vineyard Global Advisors, said.

The dollar index, which measures the U.S. currency ⁠against six major peers, was down 0.29% at 99.36.

A selloff in U.S. Treasuries appeared to be easing. The yield on the benchmark U.S. 10-year Treasury note declined to 4.696%, while that on the 30-year bond dipped to 5.283% after hitting its highest level in nearly 20 ​years.

But some ​cautioned against complacency, warning that yields were still elevated and an ​increase could reverberate across stocks, bonds and currency markets. ‌Samuelson said a 4.8%-5% 10-year Treasury yield would mark the "warning track."

"If we push through 4.8% to 5% on the 10-year Treasury, it can cause jitters and compress valuations of high-flying technology stocks," he added.

The Fed minutes are set to be released at 2 p.m. Eastern Time (1800 GMT) on Wednesday.

MIDDLE EAST IMPASSE KEEPS INFLATION RISK ALIVE

Data released during recent weeks pointed to a softer U.S. economy, including unexpected job losses in July and mild inflation readings, leading investors to scale back rate-hike bets.

"If the Fed does not ‌follow through with the rate hikes that are being discounted, the upside ​for bond yields should be very limited here," Harvinder Kalirai, chief global fixed ​income and currency strategist at Alpine Macro, said in ​a client webcast.

"The labour market and inflation surprise are rolling over and usually that coincides with a ‌narrowing in the dollar's yield advantage, and that feeds ​through into a softer dollar."

Meanwhile, a ​stalemate in the Middle East lifted oil prices to nearly three-week highs, keeping the inflation risk alive.

U.S. President Donald Trump said on Tuesday there were no talks with Iran and that the Strait of Hormuz was open. Iran said ​the strait remained shut to shipping.

Elsewhere, the ‌Canadian dollar rose slightly to $1.3870 after Trump paused the implementation of a 50% tariff on Canadian goods for ​three days, saying the countries had reached a deal.

(Reporting by Jiaxing Li in Hong Kong and Niket Nishant ​in Bengaluru; Editing by Christopher Cushing, Barbara Lewis and Andrew Heavens)