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The dollar returns to decline as confidence in the stock market improves and eyes are on the Reserve Board, Today, Monday, September 14, 2020 12:15 pm
The gains were partly due to a 0.2 percent drop in the dollar index, after rising for two consecutive weeks.
The US Federal Reserve meeting this week will be the first since Chairman Jerome Powell unveiled a policy shift towards more tolerance of high inflation, which in practice means keeping interest rates low for a longer period.
“There will be pressure on the Fed to support the new policy goals with some action,” Lee Hardman, a strategic analyst at Mitsubishi UFJ, said, noting that inflation is still well below target.
The euro rose to $ 1.186, while the yen rose 0.13 percent to about 105.9 yen, its highest level in five days.
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