Dollar pares gains and holds

The US dollar steadied against most of its peers on Friday, and gave up its early gains.

Countries around the world are intensifying their efforts to combat the Covid-19 pandemic with largescale vaccination campaigns.

The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.

The IMF also estimated the US economy to grow to 6.4% in 2021 based on the Federal Reserve's forecasts.

Data showed that the US producer price index rose 1% in March, beating forecasts of a rise by 0.5%.

The dollar index rose against a basket of major currencies 0.1% to 92.1 points as of 17:53 GMT, after hitting a high of 92.4 points and a low of 92.03 points.