Dollar rebounds from 3-month low after U.S. data; FOMC minutes awaited.
On Wednesday, the dollar recovered from a three-month low versus a basket of currencies, as a risk-on surge in the international stock system began to stall amid disappointing economic data from the United States.
The dollar index fell 0.05 percent to 92.086 after hitting a low of 91.941 earlier in the session, its lowest level since September 1. The dollar fell 0.07 percent against the yen.
Sterling fell on Tuesday after British finance minister Rishi Sunak presented parliament with a one-year spending plan and updated estimates for the country’s coronavirus-affected economy.
With the Thanksgiving holiday approaching in the United States, it wouldn’t be unusual to see risk assets correct and the dollar rise marginally. “As positions are squared up ahead of what is a long weekend,” said Shaun Osborne, chief currency strategist at Scotiabank, in a note.
Bitcoin, a most popular cryptocurrency, rose to $19,271, just shy of its December 2017 high of $19,666.