The US dollar stabilized against a broad basket of other currencies today after three consecutive days of losses as investors waited for the release of the minutes of the U.S. central bank meeting at end-October when policymakers had cut interest rates, Reuters reports.
Global macro hedge funds had ramped up their dollar selling for a third week according to latest weekly positioning data and some market watchers say hawkish policy minutes could trigger a dollar rebound.
Against a basket of currencies, the greenback was broadly steady at 97.84 after weakening by more than 0.6 percent in the last three sessions. It had hit a one-month high of 98.45 on November 13.
The Australian dollar fell by 0.16 percent to US$0.6799 and declined by 0.26 percent to 73.82 yen.