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Dollar stays near peak levels amid inflation concerns
The US dollar remained near its highest levels in a week after Federal Reserve Chairman Jerome Powell's warnings about the continued need for the central bank to fight inflation aggressively. This boosted expectations that interest rates will stay high for a prolonged period. Powell confirmed that recent inflation data still do not indicate a sustainable decline toward the 2% target, and that financial market conditions remain strong, with consumer spending continuing and investments related to artificial intelligence increasing. Meanwhile, major currencies slightly declined against the dollar, as investors continue to watch American inflation and economic activity data to make decisions about future monetary policy directions.
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