Sharjah24 – Reuters: The U.S. dollar recovered from a three-week low versus the yen on Wednesday and held its ground against other major rivals as traders pondered the chances of a Federal Reserve interest-rate cut this month.
South Korea's won stabilised following its plunge to a two-year low on Tuesday and then a partial recovery after President Yoon Suk Yeol first unexpectedly declared martial law and then abruptly reversed the decision just hours later following a standoff with parliament.
Dealers said the country's central bank may have supported the won at Wednesday's open by selling dollars.
The Chinese yuan languished near its lowest in more than a year in offshore trading, pressured by renewed tariff threats from incoming U.S. President Donald Trump, with traders watching how far Beijing is willing to let its currency slide.
Australia's dollar weakened after data showed the economy expanded by less than economists estimated.
The euro held its ground above its recent two-year trough, as French lawmakers prepared to vote on no-confidence motions later in the day that are all but certain to topple the government.
The U.S. dollar index =USD, which measures the currency against six top counterparts including the yen and the euro, added 0.07% to 106.39 at 0120 GMT.
The dollar added 0.18% to 149.90 yen JPY=EBS, continuing its recovery after dipping to 148.65 yen in the previous session for the first time since Oct. 11.
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