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Stocks rise, dollar struggles on Fed bets

Passersby walk past an electronic board showing Japan’s Nikkei average, in Tokyo, Japan September 14, 2020. REUTERS/Issei Kato/File Photo

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SYDNEY/MILAN, May 30 (Reuters) – World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July.

Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions on businesses resuming work from Wednesday, easing a city-wide lockdown that began two months ago. read more

The MSCI’s benchmark for global stocks (.MIWD00000PUS) rose 0.6% to its highest in more than four weeks by 0745 GMT, driven by a positive open in Europe and strong gains in Asia overnight. The index is up 0.4% so far this month.

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The pan-European STOXX 600…

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