Dollar dips but longer-term rally still seen in play

LONDON, Rabi’I 23, 1438, December 22, 2016, SPA — The dollar dipped for a second day on Thursday as traders booked profits ahead of a batch of U.S. data later in the day, though the greenback was still trading less than a percent away from a 14-year high touched earlier in the week, Reuters reported.
The U.S. currency surged last week when the U.S. Federal Reserve hinted that interest rates would be increased three times in 2017, after its first rate hike in a year, with the dollar index – which measures the greenback against six major peers – hitting its highest since December 2002.
The dollar edged down 0.1 percent on Thursday, having also fallen around a quarter of a percent on Wednesday.
The euro was up 0.2 percent at $1.0440, rebounding from $1.0352 on Tuesday, the lowest since January 2003.
–SPA
12:52 LOCAL TIME 09:52 GMT