Dollar index rebounds as Trump steps back from Europe tariff threat

The dollar index firmed up on Wednesday amid reports that US President Donald Trump said he would step back from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland. The index is seen recovering momentum from a two-week low but still lingers under 99 mark. Investors now look ahead to weekly jobless claims for fresh signals on the labor market, alongside delayed PCE inflation data. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 98.64, up 0.07% on the day.

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