The dollar dipped slightly, but kept a firm undertone on Wednesday, after a report showed the service sector of the U.S. economy contracted at a slower-than-expected pace in January. The U.S. unit, which has tended to serve as a safe-haven currency in recent months, lost some ground as stocks rose after the data. The dollar index , which measures the U.S. unit against a basket of six major currencies, stood at 85.346, compared with 85.721 in early trade. Late on Tuesday, the dollar index stood at 84.795. The U.S. unit, which has tended to serve as a safe-haven currency in recent months, gained overnight after Russia saw its long-term foreign and local currency ratings downgraded by Fitch.

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