The dollar has rallied against the euro, other European currencies and most Asian currencies. USD-JPY has been comparatively steady today, having rallied above 120.50 yesterday. Japanese markets remained closed today. EUR-USD, meanwhile, has dropped further into two-week low territory in making a low of 1.1163, extending yesterday's dollar-driven decline in the wake of hawkish remarks from Fed's Bullard and, to a lesser extent, Lacker. Bullard, presently a non-FOMC voter, said that there is a "powerful case to be made" for rate lift-off.
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