Dollar Gains on Bets Plunge Over Fed Outlook Hard to Sustain
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The dollar rose from an eight-month low against the euro and traded higher than a 15-year low versus the yen as technical indicators suggested the plunge in the greenback in the past six weeks may be hard to sustain.
The U.S. currency slumped earlier versus the euro and yen and slid to parity with the Australian dollar after Federal Reserve Chairman Ben S. Bernanke said additional monetary stimulus may be warranted because inflation is too low and unemployment is too high.