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FOREX-U.S. dollar jumps after Fed cuts rates as expected

NEW YORK, July 31 (Reuters) - The U.S. dollar index jumped on Wednesday by 0.22% to 98.264 after the Federal Reserve cut interest rates by 25 basis points for the first time since 2008.

Against the euro the dollar was 0.4% stronger, last at $1.111, its strongest level since May 2017. (Reporting by Kate Duguid Editing by Marguerita Choy)