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Dollar Index Rises to 3-Month High Before U.S. Data; Pound Drops

The Dollar Index rose to a three-month high before the release of U.S. leading indicators and a regional manufacturing gauge that may add to evidence a recovery in the world’s largest economy is gathering pace.

The U.S. currency gained versus most of its 16 major counterparts after minutes of the Federal Reserve’s January meeting released yesterday showed several policy makers advocated varying the pace of bond purchases. The euro fell for a second day before data that economists say will show manufacturing and services industries shrank in the currency bloc. The pound weakened to a 2 1/2-year low against the dollar.