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The dollar regained its footing on Thursday ahead of key US inflation data due later in the day, while cryptocurrencies were fragile after a bailout deal for exchange FTX by its bigger rival Binance collapsed.

The greenback surged overnight against its peers and held to those gains in early Asia trade, pushing the Japanese yen away from a roughly two-week high hit in the previous session.The euro hobbled just above parity at $1.0016, some distance from its near-two-month high hit earlier in the week.

“I think that there’s every chance we’ll see a more extended correction in risk assets if we did see an upside surprise, because the market would be forced to price the Fed either higher, or higher for longer.” The risk-sensitive Aussie was last up 0.05% at $0.6434 while the kiwi gained 0.11% to $0.5890. Both had fallen over 1% overnight.

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Business Maverick: Cryptocurrencies plunge as doubts about FTX-Binance deal growCryptocurrencies tumbled anew as news around Binance’s potential takeover of rival exchange FTX started to sink in and renewed trader concerns that there is trouble brewing within the industry and among some of its top players.
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