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Reuters
Dollar falls as Fed decision looms, yen and real gain
The dollar slipped on Wednesday as investors awaited a Federal Reserve policy decision amid speculation it might indicate a slowdown in future rate hikes. The dollar index – which gauges the greenback against a basket of six counterparts that includes the yen, euro and sterling – eased 0.2% to 111.27, but was not far below Tuesday’s high of 111.78, the strongest level since Oct. 25. “The market will be looking for signs of a potential slowdown in the pace of hikes at the December meeting, especially in (Fed Chair Jerome) Powell’s press conference … It will be a difficult balance to strike for Powell,” said Daria Parkhomenko, FX strategist at RBC Capital Markets.
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