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Dollar’s gains cut, drifts down after solid U.S. jobs data

NEW YORK (Reuters) – Investors with sizeable gains from the dollar’s strong move upward in recent weeks sold the greenback to capture profits on Friday despite a solid U.S. jobs report that bolstered the case for the Federal Reserve to raise U.S. interest rates later this year.

“It looks like some trimming of positions heading into the weekend, but the strong dollar is still intact,” said Camilla Sutton, chief currency strategist at Scotiabank in Toronto.

    • About Daniel

      "Senior Correspondent covering global financial markets, investing and foreign policy. I'm New York-based with 20+ years of experience in text, TV and radio. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught journalism in Asia, Europe, Latin America and the United States."
      Joined Reuters:
      1997
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