© Reuters. FILE PHOTO: A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. REUTERS/David Gray/Illustration/File Photo
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) -The dollar gained on Thursday as investors took profits on bets it would weaken further and it shrugged off data showing signs of a slowing U.S. economy that suggested the Federal Reserve may be done raising interest rates.
Euro weakness after a soft euro zone inflation report also partly helped boost the greenback, analysts said.
The , which measures its value against six major currencies, rose 0.5% to 103.38 and was on track to post its best daily gain in more than a month. On a monthly basis, the dollar has posted losses of 3%, on pace for its worst monthly showing in a year.
Some analysts said the dollar may have benefited from month-end demand, as investors squared up positions for November, a period that featured a sharp sell-off in the U.S. currency with the market pricing in rate cuts next year.
Others, however, expected a dollar sell-off at month-end, given how equities posted sharp gains for November. There were sell dollar…
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