Euro fragile as Fed hike looms, gas risks weigh - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 7/27/2022 4:41 AM
📰 SABCNews

⏱ Reading Time:
19 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 51%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

The euro nursed losses on Wednesday after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected US interest rate hike later in the day.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Banyana Banyana receive hero's welcome - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Banyana Banyana has been given a hero’s welcome at the OR Tambo International Airport in Gauteng – with scores of cheering fans gathered for the arrival of the soccer stars. WAFCON2022
Source: SABCNews - 🏆 37. / 51 Read more »