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Gold futures dropped nearly 3% Thursday to settle at their lowest level since early February as the Federal Reserve's U.S. interest-rate hike.
More than two years after a bull market in the U.S. dollar slowly began, the greenback is finally within striking distance of a long-awaited milestone, parity with the euro. Many Wall Street experts have predicted parity for the greenback for years, arguing that the dollar would appreciate as the Federal Reserve embarked upon a path of monetary-policy normalization. But those forecasts didn’t look likely to pan out until recently.