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Dollar set for biggest daily jump since October as U.S. yields rebound

Published by
Reuters UK

By Alun John LONDON (Reuters) -The dollar rose on the first trading day of the year, supported by higher U.S. yields as attention turned to U.S. jobs data and European inflation numbers this week which may provide clues on central banks’ next moves. The dollar index, which measures the U.S. currency against six counterparts, was last up 0.67% at 102.05, on track for its biggest daily percentage gain since October. It fell 2% in 2023, snapping two years of gains due to investor expectations that the U.S. Federal Reserve will cut rates significantly this year while the economy remains resilient….

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