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Dollar Climbs Higher On Safe-haven Demand

The U.S. dollar firmed against its major rivals on Monday on safe-haven demand after China saw a surge in Covid-19 cases and imposed stringent restrictions in several cities including Beijing and Shanghai.

Chinese authorities told residents in Beijing's most populous district to remain at home to contain the Covid-19 outbreak and the country's southern metropolis of Guangzhou has been placed under a lockdown for five days.

Traders looked ahead to the minutes of the Federal Reserve's latest policy meeting for clues about the central bank's interest rate outlook.

The dollar index, which climbed to 107.99 around noon, was at 107.82 a little while ago, up 0.84% from the previous close.

Against the Euro, the dollar is at $1.0241, gaining from $1.0326.

The dollar is trading at 1.1815 against Pound Sterling, strengthening from $1.1888.

Against the Japanese currency, the dollar is trading at 142.07 yen, rising from 140.39 yen.

The Swiss franc is weak at CHF 0.9594 a dollar, compared with CHF 0.9549 on Friday.

Against the Aussie, the dollar is stronger by more than 1% at 0.6600, while against the Loonie, it is firm, fetching C$ 1.3457 a unit, up from C$ 1.3384 on Friday.

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