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Market Update: Dollar Stays at 4-Month High
The US dollar index was trading around 92.97 against a basket of currencies on Friday, hovering at its highest level since early April, as traders looked for more hints from the Federal Reserve on its plans to exit monetary stimulus. Thursday’s data showed the number of Americans filing claims for unemployment benefits fell for a third straight time last week. Meantime, US producer prices posted their largest annual increase in more than a decade in July, due to supply chain challenges. On Wednesday, official data showed US consumer prices grew 5.4% yoy, the same as in June while the monthly rate slowed to 0.5% from 0.9% in June. On top of that, several Fed officials this week came out in support of tapering bond-buying in coming months. [/s2If]
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