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U.S. Dollar Suffers Worst Seven-Day Stretch Since 2020
The U.S. dollar is suffering its longest losing streak in years.
The WSJ Dollar Index has fallen for seven consecutive trading days, its most prolonged slide since July 2020, according to Dow Jones Market Data. The index dropped 0.4% in Wednesday trading.
On top of that, the likelihood of a rate cut at the Fed’s Dec. 10 meeting has risen over the last few weeks, according to interest-rate futures prices tracked by CME FedWatch. Investors now believe a cut is highly likely. Lower rates generally decrease the value of a country’s currency.
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