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Dollar weakens despite rise in interest rate expectations
The U.S. dollar fell on Wednesday despite a report of stronger-than-expected inflation data and an increase in interest-rate expectations, raising the possibility that the currency is in a period of secular downturn. “We are in an environment where the dollar is weakening regardless of the move in interest rates,” said Alessio de Longis, a portfolio manager for the global multi-asset group at OppenheimerFunds in New York. The announcement that the U.S. core Consumer Price Index posted its biggest gain in a year boosted expectations that price pressures may accelerate, prompting a faster pace of interest rate ... (full story)