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Dollar index highest in 20 years on Ukraine, Fed rate

London: The dollar on Wednesday reached the highest level in 20 years against a basket of major rival currencies with traders seeking safety as Russia escalates operations over Ukraine.

The Dollar index, which compares the US unit against currencies including the euro, pound and yen, jumped to a two-decade high at 110.87 points, also as the Federal Reserve prepares another aggressive US interest-rate hike.

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