The U.S. dollar hovered at a six-month peak against a basket of major currencies early on Wednesday, having pushed higher as investors continued to give the euro a wide berth. Traders said there was no fundamental reason for the broad strength in the greenback but suggested month-end repatriation by U.S. corporates may have helped.
Dollar bulls are also holding out hope that U.S. second quarter gross domestic product will show the economy has rebounded from a very soft patch and that the Federal Reserve will provide some hints on when it will raise interest rates.
The dollar index was last at 80.208, having risen 0.2 percent on Tuesday, a modest move but a vast improvement from Monday’s flat performance. It climbed as far as 81.245, a high last seen in early February and is back in the 81.000/81.482 band that had capped it over the past nine months.
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