Dollar Strengthens

Investors continued making bets on interest rates

MARKETSCOPE : The dollar strengthened early Wednesday, as investors continued making bets on interest rates.

The dollar index was up 0.29 to the 92.38 level. The euro was off at $1.1695. News hit earlier that Eurozone October inflation rose 0.3% for a 2.5% year on year on year reading, above the European Central Bank's 2% upper limit for price stability.

The sterling was off at $1.7276, after the Bank of England trimmed forecasts for economic growth and inflation over the next two years, a sign that interest rates may stay on hold. Also, U.K. jobless claims rose more than the expected 12,100 in October.

The dollar was up at 119.39 yen.

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