U.S. dollar rises after sharp decline

The U.S. dollar climbed against other major currencies on Wednesday after dipping to three-week lows in the previous session.

The rising geopolitical tensions on the Korean Peninsula had spurred market demand for safe-haven currency like the Japanese yen earlier this week.

The dollar index, which measures the greenback against six major peers, was down 0.73 percent at 99.560 in late trading on Tuesday, the lowest level in three weeks.

With no major data came out on Wednesday, the dollar index rebounded 0.23 percent and traded at 99.731 in late trading.

In late New York trading, the euro declined to 1.0721 dollars from 1.0729 dollars, and the British pound dropped to 1.2790 dollars from 1.2841 U.S. dollars in the previous session. The Australian dollar dipped to 0.7499 U.S. dollar from 0.7558 U.S. dollar.

The U.S. dollar bought 108.72 Japanese yen, higher than 108.550 yen of the previous session. The U.S. dollar rose to 0.9976 Swiss franc from 0.9962 Swiss franc, and it edged up to 1.3481 Canadian dollars from 1.3380 Canadian dollars. Endit