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Dollar trims losses as euro’s GDP-inspired boost fades

January 30, 2018

The U.S. dollar pared earlier losses on Tuesday as the trading day marched on and the euro gave up some of the gains it achieved on the back of strong economic growth data.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.15% which measures the buck against a basket of six rival currencies, gave up 0.1% to 89.220. The moderate selloff reversed Monday’s recovery in which the index inched up 0.4% and partly retraced last week’s drop that sent it to a three-year low.

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