Dollar drifts toward monthly loss as Fed bets ease

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar nursed last week’s losses on Monday and was headed for its first monthly drop in five months as investors have scaled back bets that rising U.S. rates will spur further gains and as fears of a global recession have receded a little. The week ahead is full of data that could provide clues on the outlook for global growth, U.S. interest rates and the dollar with Chinese Purchasing Managers’ Index figures, U.S. jobs numbers and growth data in resource bellwether Australia. Trade was likely to be lightened through Monday as U.S. stock and bond mark…

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