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Dollar hits 5-mth low against euro as Fed seen closer to rate cuts

Published by
Reuters UK

By Karen Brettell NEW YORK (Reuters) -The dollar slipped to a five-month low against the euro and a basket of currencies on Wednesday on expectations the Federal Reserve could soon cut U.S. interest rates. But with many traders out for holidays volumes are likely to remain muted until the New Year, and price moves are exaggerated by low liquidity. The dollar index, which measures the U.S. currency against six others, fell 0.48% to 100.98, the lowest since July 27. The index is on course for a 2.45% drop in 2023 after two years of strong gains driven by the anticipation of interest rate hikes b…

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