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Emerging market currencies are headed for more trouble next year as mounting expectations the Federal Reserve will raise interest rates to quell inflation are set to keep the mighty U.S. dollar in the driving seat, a Reuters poll showed.
China's yuan edged up on Wednesday but moves were cautious ahead of a Federal Reserve decision later in the day which is expected to see the U.S. central bank start to roll back massive pandemic stimulus, putting pressure on emerging market currencies.
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