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THE US dollar slipped against most major currencies on Friday (May 24) as traders booked profits after recent gains but the US currency remained well-placed for further advances, supported by strong US economic data that has prompted markets to dial back expectations for interest rate cuts.
The dollar slipped against major currencies on Friday, but remains well-placed for further advances supported by strong U.S. economic data. Markets dial back expectations for interest rate cuts as U.S. business activity accelerates and input prices surge, prompting a debate among policymakers on inflation control.