Dollar eyes third weekly gain as higher US rate expectations gather steam

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A currency exchange vendor counts US dollar notes at Tahtakale in Istanbul on March 22, 2021. AFP PHOTO

The dollar eased on Friday but remained near a two-month high against its major peers, buoyed by expectations that US interest rates could remain higher for longer.

Debt ceiling negotiations between US President Joe Biden and top congressional Republican Kevin McCarthy also continued to cast a shadow over the market mood, though news that the two are closing in on a deal aided investor sentiment and caused the greenback to pause its recent rally.

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