But the prospect of an end to rising borrowing costs, in the United States at least, kept downward pressure on the, which fell to its lowest in more than a year against the euro on Wednesday on the U.S. inflation news.
was up 0.4% at 691 points, around the highs for the year, to gain 13.5% so far in 2023, though still not wiping out all of the near 20% loss in 2022. Eren Osman, managing director of wealth management at Arbuthnot Latham & Co, said the U.S. inflation news was encouraging, though markets will be scrutinising the U.S. jobs data later on Thursday for signs of continued softening to underpin the disinflation story.
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