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The U.S. dollar will hold its ground against most major currencies over the coming three months as a resilient domestic economy bolsters expectations interest rates will remain higher for longer, according to FX strategists polled by Reuters. Renewed strength in the dollar coincided with a dent in the euro's stellar run over the past few weeks - it is still up roughly 2.4% against the dollar for the year - on firming expectations the European Central Bank is done hiking rates. The dollar is unlikely to give up recent gains in coming months, according to the July 31-Aug. 2 Reuters poll of 70 FX strategists, which showed most major currencies would not reclaim their recent highs for at least six months.
The U.S. dollar will hold
its ground against most major currencies over the coming three
months as a resilient domestic economy bolsters expectations
interest rates will remain higher for longer,.