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Dollar recovers as banking crisis fears ease

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Dollar recovers as banking crisis fears ease FMTNews FMTBusiness

SINGAPORE: The dollar found support in Asia on Wednesday as investors dialled back expectations of US rate cuts as fear of a banking crisis ebbed and another stubbornly high inflation print landed.

Rallies in sterling, Scandinavian currencies, the Australian dollar and the New Zealand dollar also seemed to lose steam – though without really giving back any ground. US consumer prices increased solidly in February, keeping the pressure on the Federal Reserve to contain price rises.

 

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