Frye, an analyst at Rabobank, said in a note that the dollar's modest rise did not change its position as the worst performing G10 currency so far this year, but did raise the possibility of a further recovery. She said there may have been some safe-haven buying in the dollar after a sharp sell-off in Turkish assets following the arrest of President Recep Tayyip Erdoğan's rival. She said the dollar could appreciate further in the near term if the Federal Reserve hinted that inflation concerns would limit interest rate cuts.