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Dollar Soars as Hawkish Warsh Boosts Rate Hike Chances

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USD
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Friday saw the dollar index DXY rally to a two-week high, closing up by 0.61%.

This jump was largely attributed to hawkish comments from Fed Chair Warsh, who warned that inflation is not slowing meaningfully and vowed that policymakers would return inflation to their 2% target.

The chance of a Fed rate hike at next month's FOMC meeting rose to 57%, up from 36% before Warsh's speech.

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