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Dollar Held on to Gains as Risk Sentiment Grows

Dollar Held on to Gains as Risk Sentiment Grows

The U.S. dollar held on to most of its gains on Tuesday, following a rebound on growing investor risk sentiment as jitters over North Korea and Hurricane Irma dwindled down.

The dollar index, which tracks the greenback against a basket of six major currencies, was stable at 91.874, following its decline to a 2-½-year low of 91.011 on Friday.

Higher U.S. Treasury yields also supported the dollar. The benchmark U.S. 10-year note yield increased to 2.135 percent from its close of 2.125 percent on Monday, and 2.061 percent on Friday.

The dollar was stable at 109.39 yen after gaining 1.4 percent on Monday, its largest one-day rise since mid-January. The greenback tumbled to a 10-month low of 107.320 yen on Friday, when Hurricane Irma threatened Florida and as financial markets prepared for the possibility of another missile or nuclear test to mark North Korea's founding day on Sept. 9.

The euro was flat at $1.1955 after losing 0.7 percent overnight. The common currency notched $1.2092 on Friday, its highest since January 2015, as the dollar dealt with a broad decline.

The pound climbed 0.1 percent to $1.3175 after declining 0.25 percent the previous day. It brushed a new one-month peak of 90.83 pence, supported by speculation that the Bank of England might deliver a more hawkish tone on interest rates at its policy meeting on Thursday.

The Australian dollar fell 0.2 percent at $0.8015, extending its decline from a two-year peak of $0.8125 set on Friday.

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