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US dollar falls to lowest level in almost three months as investors flock to risk
The dollar index hit an almost three-month low on Friday after strong economic data from China pushed investors toward riskier currencies and equity markets extended their rally. The dollar has fallen more than 2% so far this month after Democratic U.S. President-elect Joe Biden’s election victory and positive COVID-19 vaccine progress, which has reduced demand for safe havens. New Zealand’s dollar hit its highest level in more than three years, while the Australian dollar scaled September levels after data showed October profits at China’s industrial firms grew at their quickest pace since early 2017. The ... (full story)
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