Dollar recovers last week’s lost ground, hits three-week peak

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The safe-haven U.S. dollar hit a three-week high on Tuesday after weak global economic data revived concerns of a global recession. The dollar index , which measures the greenback against six major peers, rose 0.4% to 106.94, its highest since July 27. It has recovered all of the losses recorded last week when cooler-than-expected U.S. inflation data sent investors out of the dollar and back towards assets associated with higher risk. Risk appetite on Tuesday was hurt by a dip in German investor sentiment, a day after China’s central bank on Monday unex…

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