Dollar Rallies Most in 8 Weeks on Fed, Ukraine Turmoil
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A dollar gauge rallied the most in eight weeks as the Federal Reserve acknowledged surprise in the improvement in the U.S. labor market and amid heightened geopolitical turmoil.
A basket of emerging-market currencies fell against the dollar this week as Russia and Ukraine blamed each other for the downing of a Malaysian Airline System Bhd. plane and Israel’s military began a Gaza ground incursion. The euro dipped below $1.35 for the first time in five months on diverging central-bank policies. Canada’s dollar climbed to the strongest level in a week after an inflation gauge rose. The Labor Department may report July 22 that consumer prices increased in June.