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Dollar rebounds after five days of falls
The dollar rebounded on Wednesday after falling for five days in a row against its currency basket, as investors eyed a speech by the head of the Federal Reserve later in the day and U.S. inflation data for clues on the path of interest rates. After a volatile Tuesday on which sterling rose more than 3 percent for its best showing against the dollar since at least 1998, currency markets were calmer on Wednesday, with most of the previous day's moves seeing slight reversals. Sterling retreated 0.7 percent. The dollar, which hit a seven-week low of 112.57 yen in early trade in Asia, climbed half a percent to 113.19 ... (full story)
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- golfking
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