U.S. Dollar Eases on Rally in Commodity Currencies

The greenback nursed broad losses early on Wednesday, having suffered its biggest one-day fall in over a year as investors cut long positions in a torrid session for dollar bulls.

The market instead snapped up commodity currencies on a further recovery in oil prices and a surge in copper, while some optimism that Greece may yet secure a new debt deal shored up the euro.

The common currency jumped as far as $1.1534 from Tuesday’s low of $1.1312. It last traded at $1.1470, well off an 11-year trough of $1.1098 set last week.  That contributed to a 0.9 percent slide in the dollar index, its biggest one-day fall since Oct 2013. The index last traded at 93.709.


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