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U.S. Dollar Back in Favour as Payrolls Hangover Lifts

Investors were encouraged to go long on the greenback, again betting the Federal Reserve can continue to unwind its massive bond-buying stimulus over 2014. They pushed the dollar index back to the highs seen last Friday.

Against the yen, the dollar bounced to 104.56, within striking distance of a five-year peak of 105.45 yen scaled at the start of the year.

Also helping, one of the Federal Reserve’s most outspoken doves, Chicago Fed President Charles Evans, said he backed a continued wind-down of the Fed’s bond-buying program and could even see bigger cuts to the program if the economy strengthens.

CNBC [1]

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