US$ inches higher ahead of Fed minutes
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London
THE US dollar extended its recovery against a basket of currencies on Wednesday after bouncing back from 7-week lows against the yen and euro on the back of hawkish comments from two Federal Reserve officials in the previous session.
Dealers said some of the bets on a weaker dollar that have dominated the market for the past week were closed after warnings from New York Fed chief William Dudley and Atlanta colleague Dennis Lockhart's that the US central bank could still raise interest rates in September.
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