Dollar falls

NEW YORK: The U.S. dollar fell to a 3-1/2 week low against a basket of currencies, as traders bet more major central banks will begin reducing monetary stimulus in 2018 because of faster global economic growth.

In the cryptocurrency arena, Bitcoin´s rebound following its worst week since 2013 fizzled as it struggled to stay above $16,000 for a second day.

"The dollar has taken quite a beating against the majors in 2017," said Minh Trang, senior foreign currency trader at Silicon Valley Bank in Santa Clara, California.

In holiday-thinned trading, an index that tracks the greenback against six currencies was down more than 0.2 percent at 93.027 after slipping to 92.956, its lowest since Dec. 1 earlier.

The dollar index has fallen 9.0 percent this year, putting it on track for its steepest annual decline since 2003, when it dropped 14.7 percent.

Conversely, the euro would have its best year against the greenback since 2003. The single currency reached a 3-1/2 week high of $1.1904 on Wednesday, Reuters data showed. The dollar weakened against the yen for a second straight year. It held steady on the day at 113.26 yen.