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Dollar steady as traders weigh labour data; yuan eases

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Reuters UK

By Ankur Banerjee SINGAPORE (Reuters) -The dollar was near a two-week high against a basket of currencies on Wednesday as investors assessed U.S. economic data that showed a cooling labour market, while wagering the Federal Reserve will cut rates next year. The spotlight in Asia was on China, where the yuan extended losses as markets grappled with rating agency Moody’s cut to the Asian giant’s credit outlook. The dollar index, which measures the U.S. currency against six rivals, was 0.029% lower at 103.93, having climbed 0.3% overnight. The index is up 0.5% this month, after sliding 3% in Nove…

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