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Dollar Slide Pauses as Global Central Banks Cue Up More Easing

  • Greenback index is down 4.2 percent this year after 2015 surge
  • Policy makers in Singapore, Canada, Japan on an easing path
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Singapore Dollar Falls After Surprise Easing

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The dollar’s 2016 slump is starting to meet some resistance.

The U.S. currency, down 4.2 percent this year, inched higher Thursday following its biggest one-day gain in three weeks as central bankers abroad seek to limit further gains in their currencies versus the greenback. Singapore unexpectedly moved to a neutral policy of zero percent appreciation in the exchange rate this week, while the Bank of Canada has warned that the loonie’s more-than-10 percent gain since the middle of January is starting to hurt the economy, and Japanese officials are trying to talk down the yen, the best performing major currency this month.