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Dollar on shaky ground as Fed rate cut bets strengthen

Published by
Reuters UK

By Brigid Riley TOKYO (Reuters) – The dollar started the week on a shaky footing on Monday as markets took stock of cautious remarks from Federal Reserve Chair Jerome Powell as they waited on a key employment report that could influence the outlook for U.S. interest rates. Bitcoin grabbed the spotlight in the Asian morning, reaching the $40,000 level for the first time in over a year. Powell said on Friday it was clear that U.S. monetary policy was slowing the economy as expected, with the benchmark overnight interest rate “well into restrictive territory.” While Powell reiterated that the Fed…

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