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Currencies: Dollar stabilizes after falling to 13-month low

A widely watched U.S. dollar gauge stabilized on Thursday, but still languished near a 13-month low, struggling to shake off the dovish interpretation among investors of the Federal Reserve’s policy statement.

The ICE U.S. Dollar Index DXY, +0.37% which tracks the greenback against a half-dozen other major rivals, was unchanged at 93.67, off the 13-month low it touched on Wednesday, according to FactSet data.

The dollar turned broadly lower during Wednesday’s session as the Fed, led by Chairwoman Janet Yellen, was seen as striking a cautious note on inflation.

Inflation was “running below 2%”, the Federal Open Market Committee said, tweaking language from June’s statement in which it said inflation was “running somewhat below 2%.

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