Compulsions can be hard to resist
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US Dollar finds footing as traders brace for hawkish Fed
The dollar clung to a late week bounce on Monday as investors braced for January’s U.S. FederalReserve meeting and raised bets it will chart a year ahead containing several rate hikes, while China cut borrowing costs to support a stuttering economy. A Bank of Japan meeting which concludes on Tuesday, British inflation data on Wednesday and Australian jobs figures on Thursday are also in view as traders gauge the global policy outlook. An unexpected cut to some key lending rates in Chinahighlighted it as the outlier, though it only briefly weighed on the yuan. The dollar was 0.3% higher at 114.47 yen late in the ... (full story)