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Market Update: Dollar Rises Slightly
The dollar index edged up to 90.1 on Tuesday, as investors remain cautious ahead of US CPI release later in the week and digest the possibility of an early Fed tapering. On the one hand, jobs growth in May was not as strong as expected although inflationary pressures are on the rise. The Federal Reserve has been playing down inflationary risks saying they are transitory but in recent weeks comments from several central bank officials suggested the Fed will soon start discussing tapering. Many investors now expect the Fed to unveil a plan to reduce its bond purchase later this year, and actual tapering to start early next year. [/s2If]
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