US$ retreats from high as traders await cues

London

THE US dollar edged down from a 14-year high against a basket of currencies on Wednesday, with investors cautious about increasing bets on the greenback before getting fresh clues on the US economy and timing of interest rate rises.

The greenback surged to its highest levels since late 2002 on Tuesday after US manufacturing data beat expectations, once again threatening to reach parity with the euro, which fell to a 14-year low of US$1.0340.