FOREX-Dollar dips as hopes rise that inflation has peaked ...Middle East

The U.S. dollar index retreated from earlier highs and fell on Tuesday as Wall Street stocks erased initial declines amid growing hopes that inflation may have peaked, but the greenback managed to hit its highest level in 20 years against the Japanese yen. While a decline in Target dented gains on Wall Street, U.S. stocks mostly advanced as some investors took the retailers profit warning as a sign price pressures on the consumer may start to ease.

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