U.S. dollar drops, euro rises as markets look to ECB

Published by
Reuters UK

By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar eased back from a nearly two-year low on Wednesday as the euro reversed course and turned positive ahead of a policy-setting meeting at the European Central Bank on Thursday. Against a basket of six major currencies, the dollar fell to 99.888, after climbing early in the day to 100.52, the highest since May 2020. It has gained nearly 3% so far this month and was on track for its biggest monthly rise in nine months. The dollar index fell 0.449%, with the euro up 0.54% to $1.0884. “The dollar has just been on quite a tear for weeks now, and I…

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