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Currencies: Dollar index hits 6-month high on trade optimism

The U.S. dollar retraced its gains late Monday after having surged to its loftiest level since late last year, as investors read the most recent development between U.S. and China as evidence of easing trade animosities.

Check out: Being long the dollar is cool again

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.15% which measures the dollar against six rivals, most notably the euro, was little changed at 93.630, after earlier touching a high for 2018 and setting it up for the best finish since November 2017. The index gained 1.2% last week, its strongest weekly gain since the period ending April 27, according to FactSet.

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