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Dollar Advances to Seven-Month High on Policy Divergence Outlook
The dollar held at its highest level since March amid bets the Federal Reserve will raise interest rates this year as other major central banks maintain monetary easing. The greenback has risen against all of its Group-of-10 counterparts this month as the market-based odds of a U.S. hike by December climbed more than 10 percentage points to 71 percent. The currency completed a three-day gain Monday after a U.S. manufacturing gauge rose to the highest in a year. Canada’s dollar slid after central bank Governor Stephen Poloz clarified earlier remarks that had spurred speculation monetary policy would stay on hold. ... (full story)
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