The euro gained 0.5% to $1.02965, snapping a three-session losing streak. “The timid recovery in risk appetite has been enough to stem the multi-day rebound in the dollar,” said Joe Manimbo, a market analyst at Convera in Washington.
The dollar has risen against all major currencies this yearbuoyed by the Federal Reserve’s huge interest rate hikes in its fight against inflation, but recent colder-than-expected US consumer price data buoyed investor hopes that it would ease the rate of increase.
The recovery in risk appetite helped the Australian dollar gain 0.6% and its New Zealand pair rose 0.9%.as traders prepare for New Zealand’s central bank to approve its biggest ever rate hike this week, as they continue their efforts to moderate inflation.
Sterling rose 0.6% to $1.1885 on data showing the UK government borrowed less than expected in October, although the budget deficit is likely to soar in coming months on tightening measures. support for the energy bill and the slowdown of the economy.
In cryptocurrencies, Bitcoin advances 2.5% to $16,161, one day after hitting a new two-year low of $15,479. amid jitters over the health of cryptocurrency broker Genesis, whose lending unit suspended bailouts last week, citing fallout from the FTX collapse.
Source: Ambito
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