Investing.com - The dollar posted strong gains today as forex traders purchased the greenback after five straight days of selling that put its value against a basket of major currencies at the lowest in more than a month.
The rebound followed a volatile Tuesday during which sterling rose more than 3 percent for its best showing against the dollar since at least 1998. Currency markets Wednesday reversed most of the previous day's moves.
The pound pulled back 0.95%. The dollar index, which measures it against a basket of six major peers, stood at 100.88, up 0.55%.
The EUR/USD and the USD/JPY and the GBP/USD were all down against the dollar for the day.
The dollar had surged at the end of 2016 on expectations that fiscal stimulus proposed by U.S. President-elect Donald Trump would propel growth and inspire inflation and justify planned U.S. interest rate increases. But the greenback has slipped more than 2% during the last two weeks.
Trump in an interview with cable TV earlier broadcast earlier today said he would continue to make comments via Twitter, when he assumes office on Friday.
The remarks, though controversial, have been part of the "Trump Rally" on markets in the U.S. since the election last fall. Trump said he did not particularly like Twitter, but that since the U.S. press was so dishonest he had to use the medium to get his side of the story out online.