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Dollar hits one-year high on rate hike bets
The US dollar rose to its highest level in over a year, supported by expectations of an interest rate hike by the Federal Reserve and increased demand for the American currency. The dollar index reached 101.37 points, with a 34.2% probability of a 25 basis point rate increase in July and a 69.5% chance in September. Meanwhile, the euro and the British pound declined due to political risks and the economic deterioration of Eurozone economies.
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