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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - Hier 14:48

Dollar rallies ahead of Fed policy meeting

EURUSD rebounds to near 1.0770 in European trading on Thursday, with the major currency pair bouncing back after posting a more than four-month low below 1.0700 on Wednesday. The recovery comes as the US dollar corrects ahead of the Federal Reserve’s interest rate decision later on Thursday. On Wednesday, the DXY dollar index surged more than 1.6% – the highest single-day gain in almost four years – as the US chose Republican Donald Trump in the presidential elections over Democratic candidate Kamala Harris. The reasoning behind the dollar’s rally was Trump’s promise to raise import tariffs and lower corporate taxes.

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