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Dovish Fed takes edge off dollar rally

From reuters.com

The U.S. dollar held below a 10-month peak against a basket of major currencies early on Thursday, having soared at first on upbeat growth data only to have a dovish Federal Reserve take some steam out of the rally. The dollar index last traded at 81.422 .DXY after rising as far as 81.545 - a high last seen in mid-September. Still, the index is up more than 2 percent so far this month, on track for its biggest monthly gain in over a year. Dollar bulls took heart after the U.S. economy rebounded sharply in the second quarter, with gross domestic product (GDP) motoring at a 4.0 percent annualised pace. That outcome was ... (full story)

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