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Currencies: Dollar weakens as investors look to Draghi and U.S. inauguration

The U.S. dollar was weaker against its major rivals on Thursday, as investors looked ahead to comments from Mario Draghi, the head of the European Central Bank, who could provide clarity on the region’s monetary policies as the U.K. prepares to leave the bloc.

The ECB left interest rates unchanged earlier on Thursday, as had been expected.

The buck has been struggling for direction of late. While it is up sharply from a low reached in August 2016, it has also trended lower thus far this year. Hawkish comments from Federal Reserve Chairwoman Janet Yellen, who expects interest rates to rise “a few times a year” through 2019, supported the greenback on Wednesday, but caution is also rising ahead of the Friday swearing in of U.S.

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