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Business

November 10, 2018
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Dollar climbs

Business

November 10, 2018

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LONDON: The dollar rose towards a 16-month high on Friday after the US Federal Reserve kept interest rates steady and reaffirmed its monetary tightening stance, cueing up investors for a rate hike in Dec. The greenback fell broadly; following US midterm elections on Tuesday on the expectations that the outcome would make further fiscal stimulus measures unlikely. But the currency bounced back and returned to outperforming most major currencies, underpinned by the robust US economy and rising interest rates.

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