WASHINGTON (dpa-AFX) - The dollar turned in a somewhat sluggish performance against its major counterparts on Wednesday, but still managed to score gains against several currencies amid bets the Federal Reserve will tighten its policy next week.
Investors also reacted to reports from the World Bank and the Organization for Economic Cooperation and Development (OECD). Both the organizations have slashed global growth forecasts for the current year and 2023.
Investors are looking ahead to the European Central Bank's monetary policy announcement due on Thursday, and the data on U.S. inflation, due on Friday.
The dollar index, which climbed to 102.78 in the Asian session, dropped to 103.27 by mid morning before recovering to 102.57, recording a gain of about 0.25%.
Against the Euro, the dollar is trading at $1.0717, down marginally from the previous close of $1.0707. The dollar had earlier weakened to $1.0750.
The dollar is trading at $1.2536 against Pound Sterling, firming from $1.2589.
Against the Japanese currency, the dollar is stronger, fetching 134.28 yen a unit, nearly 1.3% up from Tuesday's 132.60 yen.
The dollar has firmed to 0.7191 against the Aussie from 0.7230. The Swiss franc is weaker at 0.9785 a dollar, easing from 0.9726.
The Loonie has dropped to C$1.2557 despite a surge in crude oil prices.
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