The euro was hovering just above parity with the U.S. dollar on Wednesday while traders focused on U.S. data due later in the session that is expected to show inflation at a 40-year high.
European stock markets were in the red and currency markets were calm in early European trading, with the dollar index up by around 0.1% at 108.33 .Register now for FREE unlimited access to Reuters.comOn Tuesday, it had dropped as low as $1.00005 on the most widely used Electronic Broking Services' dealing platform and touched $1 on Reuters dealing overnight.
Higher-than-forecast inflation would reinforce expectations of Federal Reserve interest rate hikes and push the dollar higher - potentially causing euro-dollar to break parity, analysts said. Derek Halpenny, head of research at MUFG, said in a client note that risk-off market moves due to increased global recession risks have "further to run".
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bitcoin risks new lows as $20K looms amid dollar euro parityDollar euro parity accompanies fresh concerns from Bitcoin analysts over BTC price stability.
Lire la suite »
Euro Teeters on the Brink of Parity With the U.S. Dollar on Recession FearsThe euro is hovering close to parity with the U.S. dollar as growth concerns for the euro zone rise.
Lire la suite »
Euro on the brink of breaching parity, stocks slide again By Reuters*ASIAN STOCKS FALL TO 2-YEAR LOW AS CHINA COVID FEARS ADD TO GROWTH RISKS - 🇨🇳 🇭🇰 🇯🇵 🇰🇷
Lire la suite »
Euro now worth same as U.S. dollar, hits fresh 20-year lowThe move in the currency markets is due to concerns that Russia could cut off gas supplies to Europe amid the ongoing war.
Lire la suite »
Euro weakness forces itself on ECB’s agendaThe single currency is nearing parity with the dollar for the first time in 20 years. It’s due to the U.S. economy’s strength and fears of a continental gas crisis. It also reflects the European Central Bank’s late response to inflation, which a weak euro makes harder to fight.
Lire la suite »
Euro falls to dollar parity amid fickle gas supplies, economic uncertaintyEuro strikes parity with the dollar for the first time in nearly 20 years before rising slightly as uncertainty over Russian gas supplies to Europe heightens fears of a recession in the eurozone
Lire la suite »