USD Tries to Recover Some Ground

The US Dollar (USD) is recovering on Thursday from some of its recent losses, which brought the greenback to its lowest level in nearly two years.

The USD is trying to gain some support from the recent remarks by the US Federal Reserve that reiterated the commitment to support the economy until it recovers and restores its pre-COVID-19 growth.

The Dollar Index (DXY), which measures the performance of the USD against a basket of six major currencies, is up by 0.13% at 93.57, after closing Wednesday at 93.45.

The USD is against the Japanese Yen (JPY) and Swiss Franc (CHF) by 0.17% and 0.23%, respectively.

USD is also up by 0.60% against its Canadian counterpart, with the USD/CAD trading at 1.34130.

Meanwhile, the USD maintained some losses, falling to the British Pound (GBP) by 0.13%, but recovered some ground against the Euro (EUR) and rose by 0.36% with the EUR/USD trading at 1.17491.