Yellen comments boost dollar, stocks fall

December 3, 2015 12:20 AM

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NEW YORK The dollar strengthened on Wednesday and stocks fell on Wall Street, as Federal Reserve Chair Janet Yellen signalled a readiness to hike interest rates and U.S. data indicated a solid labour market.

Yellen said she was "looking forward" to a U.S. rate hike that will be seen as a testament to the economy's recovery from recession, although she did not indicate if she still expected a hike would be warranted at the Fed's last policy meeting of the year on Dec. 15-16.

Also read: Fed Beige Book Shows ‘Mostly Positive’ Outlook for U.S. Economy

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