GLOBAL MARKETS-U.S. dollar rallies, eroding Wall Street gains

April 7, 2015 8:40 PM

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* Oil rallies sharply for second straight session (Updates to close of U.S. trading)

NEW YORK, April 7 (Reuters) - The U.S. dollar rose more than 1 percent on Tuesday, resuming a recent upward trend and weighing on Wall Street stocks as investors fretted the currency's strength would hurt multinational corporate profits.

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