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US Dollar Rallies to 2023 High While Yields Keep Rising on Fed’s Path

From bnnbloomberg.ca

The dollar staged its biggest rally in three weeks, driving it to the strongest against its key counterparts since December, as expectations that the Federal Reserve will hold interest rates high well into next year draws cash into the US. The Bloomberg Dollar Spot Index gained as much as 0.5%, putting it on track for the fourth straight advance and pushing it back above this year’s previous high before the currency pared its gains. The yen fell to its lowest against the US currency since October, while the euro slid as much as 0.7% to less $1.06. The dollar’s recent rise was spurred by indications from the Fed last ... (full story)

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  • Category: Fundamental Analysis