Dollar set for bruising week after ECB and BOE get more hawkish - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 2/3/2022 11:19 PM
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The dollar index was heading for its worst week in nearly two years on Friday as the euro held firm at a three-week high and sterling gained after hawkish shifts from the European Central Bank and the Bank of England.

The index, which measures the greenback against six major peers was at a three-week low of 95.271, having tumbled 2% this week – its biggest such fall since March 2020.

“On the face of it, both the and ECB met market expectations with BoE raising rates 25 bps to 0.50% and ECB keeping policy unchanged.The euro was at $1.1452, its highest since January 14,after ECB president Christine Lagarde acknowledged mounting inflation risks and declined to repeat previous guidance that an interest rate increase this year was extremely unlikely.

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