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Dollar sinks on Fed inflation fears, weak data and technicals
The dollar fell on Wednesday, hitting its lowest level since October against a basket of major currencies and marking its worst one-day performance in five months. The release of minutes from the Federal Reserve’s most recent policy meeting, weak U.S. data and technical trading aligned to send the dollar tumbling against both safe-haven and risky currencies. The dollar plumbed its lows of the day after the release of the Fed’s November meeting minutes showed policymakers may be starting to question a December interest rate increase as inflation has remained subdued. The dollar index, which tracks the greenback ... (full story)
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