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CURRENCIES

US$ hits two-week high after Fed hikes rate

Friday, December 18, 2015 - 05:50
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Developing nations are embracing the greater competitiveness that comes with the beating their currencies have taken, leaving their rainy day funds untouched.

London

THE US dollar hit a two-week high against a basket of major rivals on Thursday after the US Federal Reserve raised interest rates for the first time in almost a decade and signalled four more hikes are to come next year.

In a widely anticipated move, the Fed increased its