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Dollar Rises on Prospect of Gradual Withdrawal of Stimulus

Dollar Rises on Prospect of Gradual Withdrawal of Stimulus

The dollar is appreciating against major global counterparts due to the prospect that the Fed may begin to evaluate the gradual withdrawal of stimulus to the economy, and a possible interest rate hike in the world’s largest economy.

This after US Treasury Secretary Janet Yellen admitted that a slightly higher interest rate environment would be favorable for the economy and society.

The index that measures the dollar’s performance against major currencies rises 0.17%, while the European single currency falls 0.08% to $1.2156.

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