This happens as markets took US President Donald Trump's latest tariff salvos in stride, except in Brazil where a threatened 50% levy sent the real sliding. 

The Dollar had been knocked back by a sharp decline in US Treasury yields as a 10 year note auction on Wednesday garnered strong demand, tempering worries about the "Sell America" narrative that had seen Treasuries, the dollar and Wall Street stocks sold off in tandem earlier this year. 

Overall, investors were hungry for riskier assets with the most damaging tariff scenarios looking increasingly unlikely, helping Nvidia become the first stock ever with a $4 trillion valuation, and lifting cryptocurrency bitcoin to an all-time peak just shy of $112,000. 

Sentiment also drew support from minutes of the Federal Reserve's last meeting, with most policymakers of the opinion that interest rate cuts will be appropriate later this year. 

The Dollar index, which measures the currency against six major peers, was little changed at 97.404, finding a floor following a 0.2% decline on Wednesday, the same day that it pushed to the highest since June 25 at 97.837 before losing momentum. 

With the exception of Brazil, Trump's latest batch of letters to trade partners contained tariff rates close to those already proposed in his original "Liberation Day" announcement on April 2, as had been the case with other letters this week. 

Trump has also left the door open to extensions beyond the new August 1 deadline if countries make compelling proposals. 

Brazil had originally been slated for just the baseline 10% levy, but Trump cited not just trade practices but the treatment of its former President, Jair Bolsonaro. 

--Reuters--