Dollar pauses for breath as fragile pound edges up

The dollar index was at 113.6, down 0.5% on the day, but still near its 20 year top of 114.58 hit the day before. Sterling climbed over 1% to $1.0810, on track for its biggest daily percentage gain in nearly seven weeks. The dollar slid 0.3% against the yen to 144.28. The decline in the dollar was broadly in line with a recovery in markets’ sentiment towards riskier assets, which boosted European stocks and U.S. share futures.

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