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Dollar pares gains after October Philly Fed manufacturing data
October 15, 2015 / 2:31 PM / 2 years ago

Dollar pares gains after October Philly Fed manufacturing data

An employee checks U.S. dollar bank-notes at a bank in Hanoi, Vietnam August 12, 2015.Kham

NEW YORK (Reuters) - The dollar reduced its earlier gains versus a basket of currencies on Thursday as data from the Philadelphia Federal Reserve showed further contraction in business activities in the U.S. Mid-Atlantic region in October.

The regional Fed report curbed earlier bets stemming from a stronger-than-forecast rise in core consumer prices in September which revived some expectations the Federal Reserve might raise interest rates later this year.

The dollar index .DXY was last up 0.5 percent at 94.437, holding above a seven-week low set earlier Thursday.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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