US dollar softens as safe-haven demand fades

The Dollar Index slipped to 99.53 points on Wednesday, giving back part of its recent safe-haven gains.

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Article summary

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The US dollar slipped on Wednesday, with the Dollar Index retreating to 99.53 points as safe-haven demand unwound. Major pairs were broadly steady, with the euro at $1.1611 and sterling holding near $1.3430.

Key points

  • US Dollar Index fell to 99.53 points on Wednesday
  • Euro held at $1.1611, sterling little changed at $1.3430
  • Japanese yen traded at 160.43 per dollar

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The US dollar retreated in Wednesday trading, with the Dollar Index falling to 99.53 points as safe-haven demand that had buoyed the currency in recent sessions began to ease.

The euro held steady at $1.1611, while sterling was little changed at $1.3430.

The Australian dollar remained flat at $0.7066, and the New Zealand dollar edged higher to $0.5833. The Japanese yen traded at 160.43 per dollar.