Investing.com – The dollar edged higher against a currency basket on Wednesday, as market sentiment was boosted by strong earnings reports, dampening demand for safe haven assets.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.13% to 94.90 by 03:53 AM ET (07:53 AM GMT).
European equities joined in a global stock rally as markets shook off last week’s worries, with Wall Street posting its strongest gains in almost seven months on Tuesday boosted by upbeat earnings.
The solid earnings reports indicated that the U.S. economic recovery is on track despite concerns over rising interest rates and trade war tensions.
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