Dollar dips as traders eye further ECB hikes, U.S. inflation data

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Reuters UK

By Rae Wee SINGAPORE (Reuters) – The dollar recoiled from recent peaks in Asia on Friday as a hawkish rate hike from the European Central Bank lifted the euro and investors looked to U.S. inflation data early next week. Profit-taking after a sharp extension of the dollar’s long rally also took hold and the pullback was broad. The Aussie, kiwi, sterling and yen were all headed for their best daily jumps in a month and the dollar index looked set for its first weekly loss in four weeks. The euro rose 0.8% to $1.0072. The Aussie rose 1.2% to $0.6834. Sterling rose 0.8% to $1.1590, repairing a mod…

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