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Dollar, sterling firm on tentative return of risk appetite

This article was originally published in Dairy Markets

The dollar rose broadly this morning following a recent run of firmer-than-expected US data which suggested that interest rates may not need to be cut as much as previously thought. The greenback hit a three-week high against the yen of $1 = ¥102.80 in early European trading, and was up slightly against the euro at around €1 = $1.5625, substantially above last month's record lows just below €1 = $1.59.

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