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The Economic Times
The Economic Times
Business

Dollar rides high on Fed rate-hike bets

A surging dollar has swept past chart resistance and is heading toward its sharpest monthly gain in almost a year on Thursday, as traders bet on a strong U.S. economy propping up short-term interest rates and waited on key inflation data.

The dollar has broken the $1.14 level against the euro this week and hit its strongest in 13 months at $1.1325 overnight, before steadying in Asia at around $1.1353.

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