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US Dollar Heads for Best Week Since February as Hawks Linger
The greenback is set for its biggest weekly gain in nearly five months as bullish traders offered respite for a currency that has been battered so far in July. A Bloomberg gauge of the dollar’s strength advanced more than 1% in the five-day stretch ending Friday as the greenback clawed its way back from the 15-month lows it touched amid last week’s selling frenzy. The Bloomberg Dollar Spot Index is now down roughly 1.4% for month. The partial recovery in the greenback comes as traders eye a packed slate of central bank meetings next week. The Federal Reserve meets on Wednesday, while the European Central Bank ... (full story)
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