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Market Pulse: Dollar index hits roughly one-year high a week after Fed policy update

Market Pulse: Dollar index hits roughly one-year high a week after Fed policy update

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The dollar index rose to the highest level in about a year Wednesday, with currency traders attributing the climb partly to investors factoring the prospect of higher benchmark interest rates, following the Federal Reserve’s important policy update a week ago. The U.S. Dollar Index DXY, +0.52% hit an intra-session peak at 94.28 during New York trading, a level last seen in September and November of 2020.

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