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Dollar Heads For Weekly Gains As Bets On Rate Cuts Ease

Global paper currency collection, as of December 16, 2021.

Peter Dazeley | Getty Images News | fake images

The dollar was headed for its biggest weekly gain in a month and a half on Friday, helped by surprisingly strong U.S. economic indicators and a hawkish tone in the Federal Reserve minutes.

The Australian dollar is down 1.3% to $0.6605 so far this week and the New Zealand dollar is about 0.6% weaker at $0.6098. The euro was trading at $1.0814 during Asian morning trading, down 0.5% on the week.

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