The US dollar has retreated from its highest level in two decades against a basket of major currencies as investors look to Federal Reserve Chairman Jerome Powell for the latest monetary policy stance.
The Australian dollar has outperformed its advanced market peers, following the path of the rising Chinese yuan.
The dollar index, which measures the behavior of the US currency against a basket of 6 major currencies, fell 0.19% to 108.4, but remained close to the highest level recorded since September 2002, at 109.29, which it touched in mid-July.
The dollar fell 0.25% to 136.78 yen, retreating from a monthly high of 137.705 yen.
The euro rose 0.18% to $0.99865 after falling to a 20-year low of $0.99005 on Tuesday.
The pound rose 0.2% to $1.1815 after hitting its lowest level since March 2020 at $1.1718 on Tuesday.
Source: El Iktisad
