The dollar retreated from its highest level in 16 months today and lost some of its gains against the euro and the Australian and New Zealand dollars as investors assessed the latest rally in the US currency and whether it is starting to dissipate.
Reuters reported that the dollar index, which measures the performance of the US currency, recorded against a basket of six competing currencies the highest level since mid-July 2020 yesterday at 96.226, and it reached in the latest transactions 95.694, down 0.1 percent.
The euro, which was hovering near a 16-month low, rose 0.1 percent to $1,1334.
The New Zealand dollar rose 0.6 percent to $0.7041, after a survey conducted by the central bank revealed that inflation is expected to increase in the near term in the fourth quarter of the year.
And the sterling recorded in its latest trading, $ 1,3503, with a slight increase.
The Canadian dollar fell to its lowest level in six weeks, while the Norwegian krone fell.
The Australian dollar fell to its lowest level in six weeks at $0.7263, but later recovered, supported by the rise of the New Zealand dollar, and rose in its latest trading 0.3 percent to $0.7286.