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U.S. Dollar Giving Back Ground Following Recent Strength

2024-06-07MyfxbookMyfxbook
After trending higher over the past several days, the value of the U.S. dollar has given back ground during trading on Wednesday.
U.S. Dollar Giving Back Ground Following Recent Strength

(RTTNews) - After trending higher over the past several days, the value of the U.S. dollar has given back ground during trading on Wednesday.

The U.S. dollar index has dipped 0.31 points or 0.3 percent to 105.95, giving back ground after reaching its highest levels in over five months.

Currently, the greenback is trading at 154.35 yen compared to the 154.72 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0672 compared to yesterday's $1.0619.

The pullback by the dollar may partly reflect optimism Israel will show restraint in its response to Iran's recent missile attack, reducing the currency's safe haven appeal.

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