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Why the US dollar will remain strong
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The US Federal Reserve’s latest decision to hold rates at an elevated level is likely to buttress the dollar in foreign exchange markets.
PHOTO: REUTERS
Jeff Sommer
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NEW YORK – Bet against the US dollar at your peril. After the dollar’s sharp rally
Earlier in 2023, before the rebound, spot currency traders made good money wagering that the dollar would decline from the 20-year highs it reached in 2022. And although the dollar dominates world trade, a host of nations, including China and Russia, are manoeuvring to unseat it.
