Economic news

Dollar retreats from four-month peak

The dollar traded not far from a four-month peak versus a basket of major currencies on Wednesday, supported by the forecast for a firm U.S. economy and rising yields amid signs of a slowdown across other regions.

Photo: Reuters

The dollar’s index inched 0.1 percent lower in Asia after having leaped 1 percent in the previous two sessions. It jumped to as high as 92.57 on Tuesday, its highest since Jan. 10.

The greenback advanced to as high as 109.89 yen, a three-month peak on Tuesday before sliding slightly on Wednesday to 109.71.

The euro wobbled at $1.2005, near Tuesday’s trough of $1.1981, which was its weakest since mid-January.

Sterling traded at $1.3612 after having dropped to a four-month trough of $1.3588 in the previous session on sluggish UK manufacturing figures.

The Aussie dipped to an 11-month trough of $0.74725 and last traded at $0.7504.

Bitcoin fell 3.6 percent to $8,953.57 on Tuesday.


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