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Dollar slips from 16-month highs as Fed hawkishness dominates

The dollar slipped on Thursday but was still close to its highest since July 2020 against the euro, having strengthened due to market expectations that the U.S. Federal Reserve will raise rates sooner.

FOREX-Dollar slips further after disappointing jobs data, sterling shines

Euro undeterred by Jan flash PMI numbers Sterling sets its eyes on $1.40, near 3-yr high LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark. The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback. But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight. On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.

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