Renewed investor concerns about the independence of the Federal Reserve undermined the dollar on Wednesday. The greenback has struggled to gain ground. In the process, several currencies show the same face while others manage to reach higher levels

The dollar weakened as Trump's efforts to gain more influence over American institutions and the monetary policy trajectory further eroded investor confidence in the dominance of the greenback. Faced with a basket of currencies, the dollar rose slightly to 98.27, after falling by 0.24% in the previous session

The euro settled at $1.1638, while sterling was little changed at $1.3478.

The pound fell as the US dollar strengthened against major currencies, erasing losses caused by investor concerns about the independence of the US Federal Reserve. At the same time, market operators were analyzing the latest data on producer price inflation in the United Kingdom. The British currency lost 0.33% to 1.3434 dollars, down slightly less than that of the euro, down 0.5% to 1.1584 dollars

The Chinese yuan briefly hit its highest level in nearly 10 months against the dollar, supported by the central bank's ever stronger guidelines for the local currency and by the greenback's more general difficulties.

The onshore yuan hit a high of 7.1447 per dollar at one point, the highest level since November 8, 2024. It was last traded at 7.1548 at 03:35 GMT

Its offshore counterpart traded at 7.1552, down around 0.01% in Asian trade.