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Dollar supported by hawkish Fed, yen bounces after hitting five-week low

“The yen reversed course after hitting a five-week low versus the dollar to trade at 111.86 on Friday” reports cnbc.com. The yen, as a result, remains near a five-week low against the dollar.While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to low growth and inflation.The dollar index, a gauge of its performance against six major peers, traded at a fresh one-week high at 96.75.The Australian dollar lost 0.21 percent to trade at $0.7241 as sentiment was dampened by worries about rising U.S.-Sino trade war tensions.
 
Source: cnbc.com



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