US$ dips for second day on profit-taking

London

THE dollar dipped for a second day on Thursday as traders booked profits ahead of a batch of US data later in the day, though the greenback was still trading less than a per cent away from a 14-year high touched earlier in the week.

The US currency has surged since last week, when the US Federal Reserve hinted that interest rates would be increased three times in 2017 after its first rate hike in a year, with the dollar index - which measures the greenback against six major peers - hitting its highest since December 2002.