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Dollar gains diminish as energy fears fade
The dollar price rose to its highest level in seven weeks following the U.S. Federal Reserve's decision to raise interest rates and its reaffirmation of ongoing efforts to fight inflation. However, it later declined as energy prices fell and concerns about supply disruptions diminished. The dollar index reached 100.36 points before decreasing by 0.10% to 100.20 points. Markets continue to expect additional interest rate hikes this year and a longer period of monetary tightening, although some forecasts suggest that the Federal Reserve's stance remains cautiously hawkish.
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