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Dollar Gains as Central Banks in Europe Gear Up to Cut Rates

Dollar Gains as Central Banks in Europe Gear Up to Cut Rates

Signs that central banks in Europe may diverge from the Federal Reserve are driving the dollar to its strongest levels in months. U.S. inflation is proving difficult to quell, raising the prospect of the Fed sustaining high interest rates. The Bank of England could also start cutting this summer if inflation continues to subside in the U.K., analysts say.