US$ index hits 5-week low over rate hike chances
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London
THE US dollar underperformed on Wednesday, hitting a five-week trough against a basket of currencies, hurt by waning expectations that the Federal Reserve will raise interest rates anytime soon.
The dollar index, which tracks the greenback against a basket of six rivals, edged down 0.15 per cent to 93.694 after dropping as low as 93.68, its lowest since May 6.
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