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Dollar hovers near seven-month lows after jobs data

Dollar hovers near seven-month lows after jobs data

Dollar hovers near seven-month lows after jobs data. On Monday, the U.S. dollar fell to its lowest level in seven months against major currencies. Data suggested that the Federal Reserve might slow down its rate increases while China's reopening of its borders could boost riskier currencies. China's offshore currency yuan surpassed the U.S. dollar for the fifth time in five months, and the Australian and New Zealand currencies - which are generally considered more liquid proxies for China's currency - rose sharply. In the three months ended 2022, the dollar suffered its largest quarterly loss in 12 years. This was…
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