US$ sinks to 10-month low as Fed-hike bets fade
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New York
THE dollar's deepening slide is making a winner of hedge funds and other speculators who are the most bearish in four years.
The greenback sank to a 10-month low on Friday, rounding out its worst week since May, as weaker-than-forecast economic data raised doubts about the prospect of additional Federal Reserve tightening this year. Analysts at banks including Mizuho and Wells Fargo say the dollar's got further to fall as Thursday's European Central Bank (ECB) meeting approaches.
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