Contrasting policy outlooks in Washington, Frankfurt and Tokyo mean a slightly stronger dollar over the next year.
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The dollar will appreciate against major currencies in the coming months, a Reuters poll found, but not enough to make up for the losses incurred just before and since the Federal Reserve raised interest rates in December.Investors were net short on the euro, net long on the yen and dollar long bets were curbed for the ninth week to a roughly 22-month low.Not a single analyst now is calling for the euro to breach parity with the dollar in the next six months.The yen, currently trading at 114.1 to the dollar, will slip to 116 in three months, 118 in six months and 120 in a year.China's yuan, the source of most market turmoil since December, is forecast to depreciate from 6.54 per dollar Thursday to 6.70 in six months and by 3.5 percent to 6.78 per dollar in a year.
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