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US dollar gains but set for worst monthly loss in a year, euro falls

A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. REUTERS/David Gray/Illustration/File Photo Acquire Licensing Rights

  • Euro falls after inflation data
  • Dollar rises, but set for weakest month in a year
  • U.S. inflation moderates in October
  • Yen back from the brink; strongest month in 2023
  • Month-end activity muddles FX action

NEW YORK, Nov 30 (Reuters) – The dollar gained on Thursday as investors took profits on bets the currency would weaken further and shrugged off data showing signs the U.S. economy is slowing.

Thursday’s economic data suggested that the Federal Reserve is likely done raising interest rates and may start easing by the middle of next year, typically a dollar-negative factor.

Euro weakness after a soft euro zone inflation report also partly helped boost the greenback, analysts said.

The dollar index, which…

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