US$ eases as geopolitical woes boost euro, yen

London

THE dollar nursed broad losses on Wednesday as investors cut crowded long positions in the lead-up to the US Thanksgiving holidays, and as heightened geopolitical tensions boosted demand for the euro and yen.

The greenback had hit an eight-month high against a basket of major currencies at the start of the week as expectations grew that US interest rates will increase next month. But it edged back on Tuesday after the downing of a Russian warplane by Turkey near the Syrian border.