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Dollar holds above six-and-a-half month lows, Fed signals rate hikes

Dollar was 0.1% higher at 111.85 yen after a bounce to 112.050 yen, its highest in a week

Reuters  |  London 

The dollar on Wednesday held above 6-1/2-month lows hit in previous days, as comments from a senior Federal Reserve official rekindled expectations of possible US interest rate rises. The dollar had lost nearly all of its gains since the US elections last November as investor hopes for a fiscal boost from President Donald Trump were dulled by a scandal over his firing of former FBI director James Comey. That, along with a recent sub-par US data has weighed on the dollar in past weeks. Citi's Economic Surprise Index for the United States is at its lowest since February 2016, ...

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First Published: Wed, May 24 2017. 15:28 IST