The dollar headed for a second week of gains on Friday, with even a rate hike in Japan unable to halt its march, and a surprise cut in Switzerland highlighting the gap between the Federal Reserve and others in interest rate settings. This week has marked a shift in the direction of global monetary policy, after a number of major central banks either made changes to their interest rates, or signalled that they intended to do so before too long. The dollar was on course for its second largest weekly rise against a basket of currencies, while rate-sensitive assets such as gold and stocks hit record highs.
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