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Currencies: Dollar rises, but losses steam after Trump criticizes Fed interest-rate policy

The U.S. dollar edged higher Thursday, but not before paring much firmer, broad-based gains against major rivals, following comments from President Donald Trump that indicated that he wasn’t “thrilled” with the Federal Reserve’s interest-rate hikes—remarks that raised questions about the ability of the currency to strengthen further in 2018.

“Because we go up and every time you go up they want to raise rates again. I don’t really—I am not happy about it,” said the president. “But at the same time I’m letting them do what they feel is best.” He added, “But I don’t like all of this work that goes into doing what we’re doing.

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