Dollar Dips From 16-Month Highs as Rally Takes a Pause

Dollar Dips From 16-Month Highs as Rally Takes a Pause
An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, on March 20, 2019. Mohamed Abd El Ghany/Reuters
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LONDON—The dollar slipped back from a 16-month peak on Thursday, losing ground on the euro and Australian and New Zealand dollars as traders assessed whether the U.S. currency’s recent surge was starting to stall.

The dollar has rallied in recent weeks as traders bet on tighter U.S. monetary policy. Stronger-than-expected inflation numbers in the United States last month and punchy retail sales data this week have added to those bets.