The dollar held near its lowest in more than a year against a basket of peers on Wednesday, with sterling trading just off multi-year highs, as markets focused on clues to the size of a widely expected US interest rate cut in September.
The Australian dollar rose to an eight-month high and last traded at $.06793.
Elsewhere, overall moves in the foreign exchange market were muted as traders awaited fresh hints on the state of the world’s largest economy.
The dollar index, which measures the greenback against a basket of currencies, was last 0.2% higher at 100.78, hovering above a 13-month low of 100.51 hit in the previous session.
For the month, the dollar has fallen 3.4%, putting it on track for its biggest monthly decline since November 2022.
Sterling ticked down 0.14% to $1.3243 after hitting its highest since March 2022 against the greenback at $1.3269 on Tuesday.
The euro slid 0.24% to $1.1156, but was sitting not far from a 13-month peak touched at the top of the week.
The yen edged further off M
onday’s three-week high of 143.45 against the greenback, and was last 0.23% lower at 144.33 per dollar.
The New Zealand dollar dipped 0.1% to $0.6246.
Source: Qatar News Agency