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The Economic Times
The Economic Times
Business

Dollar set for biggest weekly drop since April after jobs data lowers Fed hike bets

The U.S. dollar was heading towards its biggest weekly loss in 12 weeks on Friday after Thursday's tepid U.S. jobs report cooled market expectations for a near-term Federal Reserve interest rate hike, providing relief for the Japanese yen.

Broad dollar weakness lifted the euro to $1.1440, after it hit a nearly two-week high the day before. It was up 0.5% on the week.

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