The dollar index (DXY00) on Wednesday rose by +0.18%. The dollar recovered from early losses on Wednesday and moved higher after President Trump said that he would refrain from imposing tariffs on goods from European nations that oppose his effort to take possession of Greenland, citing a "framework of a future deal" regarding the island.
The dollar initially moved lower on Wednesday amid concerns that President Trump would impose higher tariffs on several European countries if they didn't allow him to acquire Greenland. The dollar was also under pressure after the US Dec pending home sales posted their biggest decline in 5.5 years.
