The euro fell about 1% to $1.0108 overnight, the largest fall since July 11 and was steady in early Asia trade at $1.0139.
Flows along the Nord Stream pipe from Russia to Germany fell on Tuesday and will drop further on Wednesday. Markets have priced in a 75 basis point Fed hike later on Wednesday, with a 13% chance of a supersized 100 bp raise. “It’s more of a wait-and-see rather than the expectation of a large surprise,” said Galvin Chia, emerging markets strategist at NatWest Markets.
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