The United States of America dollar index which measures it against a basket of six other major world currencies, slumped on Thursday, May 31.
The Greenback DXY dipped 0.3 percent to 93.830 after surging to a near seven-month peak of 95.025 on Tuesday.
Against the greenback, the Canadian dollar CAD= strengthened as much as 1.4 percent on Wednesday after the country’s central bank held interest rates steady but suggested that it could raise them soon, possibly as early as July.
There was some support for the greenback as U.S. Treasury yields US10YT=RR nudged up from April lows hit this week to 2.849 though there were a number of geopolitical events to navigate.
U.S. Secretary of State Mike Pompeo and high-ranking North Korean official Kim Yong Chol will hold a second day of meetings in New York later as they try to set the stage for an historic summit between their two leaders.
China had lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit by U.S. Commerce Secretary Wilbur Ross.
