Euro could not take advantage of the broad dollar’s weakness EUR EURUSD $EUR $EURUSD
The focus remains on heating inflation and the Russia-Ukraine crisis.peaked at 1.1045 on Tuesday, retreating modestly to end the US session with modest gains at around 1.1030. The American dollar was sharply down across the FX board, despite US government bond yields surging to their highest in almost three years. Stocks advanced, despite the absence of positive developments in the Russia-Ukraine front, and mounting inflation-related concerns.
The Union’s leaders have agreed to collaborate in jointly purchasing gas and derivatives amid fears of winter shortages given the sanctions imposed on Russia, its major provider. Meanwhile, gas andhave resumed their advances, adding to soaring inflation in the EU. That said, financial markets are now looking for an ECB’s 50 bps hike before year-end.
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