Economic news

Dollar heads lower after two sessions of surge

The dollar slumped on Thursday as its recent rally lost steam after climbing to a one-week peak.

Photo: Reuters

The dollar index sank 0.1 percent to 89.945 after touching a one-week top of 90.147.

The U.S. currency lost 0.4 percent to 106.450 yen after it soared 1.4 percent in the previous session on huge progress over the North Korea problem.

The euro ticked up 0.15 percent to $1.2332 after dipping 0.75 percent on Wednesday.

The pound was virtually flat at $1.4080 after sliding 0.5 percent overnight on report the UK retail sales dropped in March for the first time in five months.

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