The dollar index, which measures the greenback against six counterparts, eased 0.08% to 104.39, giving back some of its 0.53% rally overnight, spurred mainly by weakness in the euro.
Treasury 10-year yields slid more than 1 basis point in Tokyo, trading to around 3.17% as Asian equities followed Wall Street lower. US shares fell after a steep drop in US consumer confidence stoked worries about a slowdown as the Fed rushes to get inflation in check. The euro rose 0.11% to $1.05315 after dipping to $1.05025 on Tuesday, after European Central Bank chief Christine Lagarde offered no fresh insight on the path for European interest rates at the ECB’s annual forum.
The ECB is widely expected to follow its global peers by raising interest rates in July for the first time in a decade to try to cool soaring inflation, though economists are divided on the magnitude of any hike.“Recession risk will periodically undercut DXY the broader medium-term uptrend likely persists a while yet,”Westpac strategists wrote in a client note, referring to the dollar index, which they see sticking to a range of 101 to 105 for now.
Serves dem right😅😂🤣 & Trevor & Elon must not come back here when things go south to the worst
Even if you try to use dodgy and funny English we know you want to say US dollar continues to decline and Russia ruble keep on gaining strength
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