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Dollar declines on Fed outlook as S&P 500 futures, Facebook gain

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London - European and Asian currency markets reacted to signals from the Federal Reserve that it will maintain a gradual approach to raising interest rates.

The dollar extended losses, weakening against all but three of its 16 major peers, as bets on a rate increase in 2016 remained below 50%. Facebook Inc. climbed after reporting a 59% jump in sales.

Banks led declines in the Stoxx Europe 600 Index after Lloyds Banking Group Plc said it planned to cut 3 000 more jobs and warned Britain’s vote to leave the European Union may hurt earnings and dividends.

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