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US dollar steadfast as investors seek 'carry'
The U.S. dollar was set for a second week of broad gains on Friday, with even a rate hike in Japan unable to dislodge it, as investors figure U.S. rates are high and not falling yet. The Swiss National Bank delivered the biggest surprise of a week crammed with central bank meetings, cutting its main interest rate and citing the strength of the franc as a reason. The franc, which in real terms has been rising for years, dropped more than 1 per cent overnight to 0.8894 per dollar, its weakest in four months, and slid to a nine-month low on the euro nudging it closer to parity. The Bank of Japan announced an historic ... (full story)