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The dollar index stays firmly above 99 mark on Friday, amid growing uncertainty surrounding a deal between US and Iran. Elevated crude oil prices and ensuing higher inflation and interest rate scenario is keeping the dollar index afloat. The US Dollar Index, an index of the value of the US Dollar measured against a basket of six world currencies, currently trades near 99.25, a six week high. Data released by the US Department of Labor on Thursday showed that the number of Americans filing claims for unemployment benefits fell last week, indicating labor market resilience and providing the Federal Reserve (Fed) with room to focus on rising inflation.
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