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Dollar soars after unemployment rate drops

Published: December 4, 2009 5:02 PM
By The Associated Press  TALI ARBEL (AP Business Writer)

Quick ReadDollar soars after US jobless rate drops; investors weigh possible earlier rate hike

NEW YORK (AP) — The dollar leaped higher Friday after the government said the U.S. unemployment rate dropped to 10 percent in November, leading traders to weigh chances that the Federal Reserve might begin raising interest rates sooner than they had expected.

The 16-nation euro dropped to $1.4827 in late New York trading from $1.5092 late Thursday. Before the government's release at 8:30 a.m....

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