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The dollar hovered near recent peaks against the euro and the yen on Wednesday as investors awaited the Federal Reserve’s start to scale back pandemic-era stimulus and how Chairman Jerome Powell handled inflationary pressures.
The dollar index settled little changed at 94.11, close to the 2021 peak of 94.563 recorded last month.
Against the euro, the dollar also settled at 1.1579, near the low of 1.1522 recorded in October, which was the strongest level for the dollar since July 2020.
The dollar traded at 113.94 yen, near a four-year high.
The Australian dollar fell 1.2 percent against the dollar on Tuesday and settled at $0.7448 on Wednesday. Its New Zealand counterpart also fell one percent, but was supported today by strong employment data and hovered at $0.7134, up 0.3 percent.
The British pound fell to a two-week low of $1.3606.
