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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 25/Jun 14:29

Silver stuck below $30 as dollar bounces back

Silver slumped below Monday’s close and was near $29.40 in Tuesday’s New York trading. XAGUSD faces selling pressure as the US dollar has bounced back strongly after correcting on Monday. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, rebounded from 105.40. The dollar recovered as investors become doubtful over the Fed interest rate outlook. Currently, markets expect that the Federal Reserve will start reducing interest rates from the September meeting and subsequent rate cuts will be announced in the November or December meeting. However, Fed policymakers argue in favour of maintaining interest rates at their

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