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The US dollar experienced an increase against a basket of major currencies, jumping by 1.2% against the Japanese yen after the Bank of Japan raised interest rates to their highest level in 31 years at 1.25%. The dollar index also performed strongly, rising by 1.4% over the week following the US Federal Reserve's rate hike and signals of potential further increases, which led to a slight decline of 0.1% in the euro and British pound. Meanwhile, the Chinese yuan rose to its highest level against the dollar in over four years, supported by Chinese central bank policies and increased reference rates.
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