Nevertheless, Biden said the gun was probably not fired by Russiaalthough the investigation is ongoing. Moscow denies responsibility of the explosion. The ambassadors of the NATO holds an emergency meeting this Wednesday.
The dollar indexwhich measures the performance of the greenback against a basket of six currencies, it falls 0.2% to 106.03, its lowest value since August 12.
The euro rises 0.5% to $1.04000, heading for a four and a half month high of 1.0481 dollars that touched the day before, after the US producer price index was below expectations, reinforcing bets that last week’s consumer inflation – weaker than expected – was not a one-off.
Regardless of geopolitics, slowing US inflation, if sustained, should mean the Federal Reserve can slow or even pause aggressive rate hikes that have supported the dollar this year.
On the contrary, UK inflation continues to rise, peaking at 41 years in the 12 months to October, According to data released Wednesday, although sterling is up 0.2% at $1.1875.
The United Kingdom will announce a new budget on Thursday in which the Secretary of the Treasury, jeremy huntadvertise tax hikes and spending cuts. The pound fell to a record low of $1.0327 in Septemberafter Hunt’s predecessor, kwasi kwartengannounced a package of unfinanced tax cuts, which triggered alerts in the market about the level of indebtedness to which the Government would agree.
The dollar earns a 0.2% against the Japanese currency to 139.63 yen, influenced by the Rising US Treasury yields longer-term during Tokyo trading as haven demand eased, but remains close to the 2.5-month low hit on Tuesday.
Source: Ambito
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