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US Dollar hits 5-month lows as Powell signals end to rate hikes.
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The US Dollar weakened this week - reaching five-month lows - following Powell’s dovish speech where he stated that the Federal Reserve was done raising interest rates and would consider several rate cuts in 2024. Treasury yields sank on the news, with the 10-year rate falling below the 4% mark while the dollar index (DXY), which tracks the greenback against a basket of other currencies, lost 1.40% last week.
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