The start of European session trading saw the US dollar gain support to rebound against its major rivals.
At the time of writing, the dollar index traded slightly higher at 93.63 against six other major currencies.
Commodity currencies, the Aussie dollar, kiwi and loonie, meanwhile, stopped gains by falling back from their previous monthly highs.
The decline may be due to less than pleasant news about Chinese real estate giant Evergrande which is still mired in its debt crisis.
Most recently, Evergrande reportedly failed to sell some of its assets to Hopson Development Holdings causing investors to worry that the company would not be able to resolve its debt problems and thus have a huge impact on the global market.
However, at the same time the factors supporting commodity currency trading are still strong due to high commodity prices.
Meanwhile, the pound struggled to keep the price from falling below 1.3800 following the USD’s resurgence and gloomy expectations about Covid-19 as the winter approaches.
Still, optimism for the Bank of England (BOE) will raise interest rates faster than expected, helping to offset investor anxiety to continue to hold on to the currency.
The euro depreciated slightly, but the price still held around the two -week high against the greenback dollar.
