USD Rebounds Across the Board

The U.S. Dollar (USD) rose on Wednesday against international peers, supported by the dovish tone by Federal Reserve officials, which helped reduce reflation fears among investors.

The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.39% at 89.99.

The index has been hovering around the 90 level, moving in a range between 89.59 and 90.04, mostly upwards.

Yesterday, the Fed’s Vice Chair, Richard Clarida, reassured markets that the central bank would be able to limit an outbreak of inflation.