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Fed expectations buoy dollar after Wednesday selloff
The dollar rose on Thursday as markets refocused on an expected interest rate increase from the Federal Reserve and pushed the greenback up from one-month lows against the euro and yen. The dollar regained part of Wednesday's losses of more than 1 percent, which came after comments on Tuesday from the European Central Bank's Ewald Nowotny that added to doubts about further policy divergence between the United States and Europe. Markets were largely expecting the Fed to tighten monetary policy and the ECB to ease this month, and while the European bank did reduce its deposit interest rate, the cut was below ... (full story)