Analyst: Dollar may rally further in near term

The dollar's modest rise didn't change its status as the worst-performing G10 currency so far this year, but did raise the possibility of a further recovery, Rabobank analyst Foley said in a report. She said the dollar may have seen some safe-haven buying after a sharp sell-off in Turkish assets following the arrest of a rival of Turkish President Recep Tayyip Erdogan. The dollar could appreciate further in the near term if the Federal Reserve hints that inflation concerns will limit rate cuts, she said.