2017.06.2119:57:00UTC+00Dollar Pulls Away from One-Month Peak as Pound Rallies

The dollar retreated from a one-month high versus a group of its peers, as losses on U.S. equities prompted traders to lock profits on gains that were made due to bets of potentially another U.S. interest rate hike later this year.

The dollar index fell 0.2 percent at 97.541, down from a one-month peak of 97.871 hit during the previous session.

Meanwhile, the pound rose after BoE's top economist Andy Haldane said he sees himself supporting a British rate hike this year. The sterling tanked on Tuesday after BoE Governor Mark Carney that conditions were not viable for a UK interest rate hike after three policy makers had called for a rate hike in the most recent policy meeting. It fell by as much as 0.6 percent before regaining footing, ending at $1.668.

Commodity currencies such as the Canadian dollar and the Australian also declined relative to the lower oil prices. The loonie traded at C$1.3313 per dollar, down 0.4 percent from the prior day. The Aussie slid 0.3 percent at $0.7558, while the NZ dollar edged down 0.1 percent to $0.7231.