NEW YORK: The dollar edged higher on Wednesday, backing off of a near five-month trough versus major peers, as traders waited for employment data later in the week before making any big moves.
The dollar index, which measures the greenback against six rivals, was up 0.06% at 89.961, after hitting a low of 89.662, near its lowest since Jan. 7 at 89.533.
The euro traded 0.1% lower at $1.2201 after pulling back from near a multi-month top overnight, when it touched $1.2254.
Sterling rose 0.18% to $1.4175, after easing off a three-year high of $1.4250 reached on Tuesday.
Elsewhere, the Canadian dollar eased 0.07% to C$1.2065 per greenback after rallying to a fresh six-year peak of C$1.2077 overnight as oil prices rose.
The Australian and New Zealand dollars dipped 0.1% and 0.12% respectively against the greenback. The Aussie was last at $0.7744, while the Kiwi was at $0.72405 against the US dollar.
Investors were also eyeing the trajectory of China’s recently bullish yuan. It was little changed at 6.3823 per dollar in offshore trading, after retreating from a three-year high of 6.3526 on Monday as policymakers took steps to cool its advance including raising banks’ FX reserve requirements. In cryptocurrencies, bitcoin was up 3.34%, at $37,919.89, while ether was up 7.52% at $2771.57.
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