Dollar edges lower, briefly hits one-week high on Trump remarks before losing steam

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The dollar edged lower in New York foreign exchange trading. After President Trump said the ceasefire memorandum with Iran was over, the dollar index briefly touched 101.27, its highest in about a week, but then turned lower and ended down 0.2 percent at 100.98. The euro rose 0.12 percent to 1.1425 dollars, while the dollar gained 0.23 percent to 162.46 yen, marking a fourth straight session of gains. The British pound hit a three-week high of 1.341 dollars before settling 0.37 percent higher at 1.3401 dollars. Market participants noted that with dollar long positions already crowded and geopolitical risks largely priced in, position adjustments are likely to emerge.

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