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Dollar under duress as markets temper Fed taper view
The dollar struggled at two-week lows against a basket of major currencies early in Asia on Thursday, as markets continued to chip away at its recent gains on growing doubts the Federal Reserve will scale back stimulus in any significant way next week. The dollar index .DXY stood at 81.518, having fallen as far as 81.445 overnight. It has broken below its 200-day moving average and lost more than 1 percent from a seven-week peak set on September 5. The move came as U.S. Treasury yields dipped, with the benchmark 10-year slipping to 2.912 percent, pulling back from a two-year high of 3.007 percent reached last Friday. ... (full story)
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