“The market has gone a bit too far ahead of itself,” Issa said. REUTERS/Dado Ruvic/Illustration
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The dollar climbed to a near 14-year high against a basket of currencies Wednesday, even as analysts cautioned it is vulnerable to a letdown from its surge tied to bets on pro-growth policies under U.S. President-elect Donald Trump.It has risen 3.5 percent over eight days, which would be the biggest such increase since May 2015 .While traders have increased their expectations on the Federal Reserve raising interest rates at its Dec. 13-14 policy meeting, the dollar rally may cause Fed policymakers to reconsider such a move due to its repercussions on U.S. exports, analysts said.The dollar gained 0.3 percent to 109.48 yen after rising to 109.75 yen, its highest since June 1 .
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