Forex – Dollar bounces back, edges higher vs. rivals

Forex
Dollar gains some ground against other majorsDollar gains some ground against other majors

Investing.com – The dollar edged higher against other major currencies on Wednesday, recovering from losses posted after the release of mixed U.S. economic reports on Tuesday.

eased 0.09% to 1.1176.

The dollar weakened after data on Tuesday showed that the fell to 117.9 in April, compared to expectations for a rise to 119.8.

However, the U.S. Commerce Department said rose 0.4% last month, in line with economists’ forecasts. It was the biggest increase in four months.

The greenback also remains under pressure amid fears investigations into President Donald Trump’s ties with Russia could hamper his administration’s progress on promised stimulus measures.

slid 0.36% to trade at 1.2811 after that British Prime Minister Theresa May’s Conservative Party could lose 20 of the 330 seats it holds in Parliament while the opposition Labour Party could gain nearly 30 seats

The news came after a string of opinion polls showed a narrowing lead for May’s Conservatives.

Elsewhere, added 0.14% to 110.99.

Sentiment mildly strengthened after data earlier showed that remained unchanged at 51.2 in May, confounding expectations for a downtick to 51.0.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% at 97.34.

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