Dollar to its highest level in 7 weeks ... Learn the reasons
The dollar recovered from its lowest in seven weeks, receiving some support after hopes for a fiscal stimulus package in the United States before the November elections collapsed.
Progress towards a stimulus deal in the United States was supporting sentiment in global markets and raising demand for riskier assets in previous sessions, which put pressure on the safe-haven dollar, which tends to decline when risk appetite increases.
In early London trading, the dollar index was slightly lower against a basket of currencies at 92.612, but it consolidated above its lowest levels since September 2nd.
The euro fell 0.16 to $ 1.1842, below its one-month high of 1.18805, which it hit on Wednesday.
The Japanese yen diverged far from the four-week high it reached yesterday at 104.345 against the US currency, to be in the latest transactions at 104.74.
In a slight change from the previous session, the British Pound was at $ 1.3145 in the most recent trade.
The Australian dollar fell 0.1 percent against the US currency, while the New Zealand dollar slightly increased to $ 0.6664, up from the 0.6551 level it touched on Tuesday.
The Chinese yuan was down in the latest foreign trade by about five percentage points at 6.6548 against the dollar.
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