Doha: The dollar retreated against most major currencies on Wednesday after the US signaled it may be nearing a deal with Iran. The euro stood at $1.1714 and sterling traded at $1.35685, both up roughly 0.2% so far on the day.

According to Qatar News Agency, the Australian dollar fetched $0.7208, up nearly 0.4% in early trade, and the New Zealand dollar was up 0.3% at $0.5905. Meanwhile, the dollar index fell 0.01% to 98.299.

Against the yen, the dollar traded at 157.62 yen, down 0.17% from late US levels, still well above last week's intervention low despite easing oil prices.