- Admin
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The U.S. dollar sank from a one-week high against a basket of major peers on Tuesday as the mood in financial markets brightened ahead of Federal Reserve and Bank of England (BoE) meetings this week. Both the Fed and the BoE are expected to hike interest rates by 75 basis points (bps) in meetings on Wednesday and Thursday respectively. Traders then expect the BoE to slow down and raise rates by 50 bps in December, and hopes have risen that the Fed could do the same at its meeting that month.