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[QUOTE="SOLIDECN, post: 215278, member: 80239"] [JUSTIFY][B]Dollar on track for weekly losses on Fed rates[/B] Dollar fell in European trade on Friday against a basket of major rivals, extending the gains for the fourth day in a row, and almost hitting three-month lows, and on track for the second weekly loss in three weeks following weak US data and the release of Fed's minutes. Such Fed minutes clearly bolstered the case for a 0.5% rate hike in December and a slower pace of policy tightening. [img]https://i.ibb.co/zxZpKBj/eurusd-n.png[/img] [B]The Index[/B] The dollar index fell 0.25% to 105.68, with a session-high at 106.16, after closing down 0.2% yesterday, the third loss in a row, edging near three-month lows at 105.34. Dollar is now down 1.2% so far this week on track for the second weekly loss in three weeks. [img]https://i.ibb.co/X50rdQz/dxy.png[/img] [B]Weak Data[/B] Recent US data showed manufacturing and services activities tumbled heavily in November, hinting at potential economic recession in the fourth quarter of the year. [B]The Fed[/B] Fed's minutes released for the November 1-2 meeting showed most policymakers agreed it's important to slow down the pace of policy tightening. [B]Fed Minutes[/B] Chances for a 0.5% rate hike in December by the Fed rose from 75% to 85% after Fed's minutes, while chances for a 0.75% rate hike fell from 25% to 15%.[/JUSTIFY] [/QUOTE]
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