Dollar Strength and British Pound

currencies: The ICE U.S. Dollar index DXY, -0.05% a measure of the dollar strength against a basket of six rival currencies, was down 0.3% to 99.0990, its decline could be primarily attributed to renewed strength in the British pound, which briefly traded at $1.4368, its highest level in more than a week, earlier in the session, according to Market Watch. More recently, the pound GBPUSD, -0.4320% traded $1.4360, compared with $1.4221 late Monday. But the currency traded higher against the yen as rising oil prices diminished investor demand for haven assets like the Japanese currency. Market strategists said the currency was rebounding after weakening against the dollar for several weeks. Investors attributed the moves to the unwinding of long-dollar positions as risk sentiment recovered and investors braced for a dovish statement from the Fed. The euro EURUSD, +0.0460% traded at $1.0860 late Tuesday in New York, compared with $1.0854 late Monday. (news.financializer.com). As reported in the news.