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Dollar rise hits near two-year high

The dollar is hitting new near two-year highs, buoyed by impending Federal Reserve interest rate hikes, strong US growth and geopolitical concerns abroad.

The Wall Street Journal Dollar Index, which measures the US currency against a group of 16 others, climbed in 13 of 15 sessions to its highest levels since May 2020. The dollar gained more than 10% against the Japanese yen this year and more than 5% against the euro. The index slid 0.6% on Wednesday.