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Dollar gains on outlook for hawkish Fed, strong U.S. data

From reuters.com

The U.S. dollar hit fresh eight-month highs against the euro on Tuesday and advanced against the yen and Swiss franc on expectations for positive U.S. economic data and a potentially more hawkish tone from the Federal Reserve. Analysts said the Fed, which is expected to cut its monthly bond-buying program by another $10 billion after its two-day meeting ends on Wednesday, may hint at an approaching hike in interest rates in light of U.S. labor market growth. "The market is starting to get more comfortable with the idea that a shift in (the Fed's) tone is coming, and they're positioning for it," said Ian Gordon, FX ... (full story)

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