Around 8 p.m., the Dollar index rose by 0.12% to 98.61 points. The pressure put by Vladimir Putin is weighing on the euro (-0.18% to 1.1009 dollars for one euro).
The US dollar benefited on Wednesday from investors’ risk aversion, and the Russian ruble rose following Vladimir Putin demanded that gas deliveries to the EU be paid for in Russian currency.
The Dollar index, an index that compares the greenback to a basket of other major currencies, took 0.12% to 98.61 points around 6:55 p.m. GMT (7:55 p.m. in Paris).
“The Fed’s communication has done a good job of urging markets to expect a 50 basis point hike in May,” noted Scotiabank’s Shaun Osborne.
“We expect this Fed hawkish approach to rates to keep support for the greenback,” the analyst added, recalling Federal Reserve Chairman Jerome Powell’s remarks on Monday, citing the possibility of a tightening. tighter monetary policy.
“It’s the return of risk aversion on the world markets”, which benefits the dollar, a safe haven, also commented Chris Beauchamp, analyst at IG.
The pressure put by Vladimir Putin weighed on the euro (-0.18% to 1.1009 dollars for one euro), the European Union importing a large part of its hydrocarbons from Russia.
Conversely, the Russian currency climbed 9.16% to 96.18 rubles per dollar.
The yen did not take advantage of its safe haven status and fell 0.26% to 121.12 yen per dollar, its lowest since January 2016.
Japan is heavily dependent on the international market for its energy, and rising prices are weighing on the outlook for its economy.
Moreover, unlike the US Federal Reserve, which has raised its rates and promised to do so on numerous occasions this year, the Bank of Japan is maintaining its very loose monetary policy for the time being.
Finally, the British pound lost 0.40% to 1.3209 dollars (-0.23% to 83.34 pence for one euro).
Inflation accelerated further in February in the United Kingdom, to 6.2% year on year following 5.5% in January, and remains at a record level in almost 30 years, the Office for National Statistics announced on Wednesday. (ONS).
“The risk of double-digit inflation in the coming months is increasing,” said Michael Hewson, an analyst at CMC Markets, who believes that the measures announced by Chancellor of the Exchequer Rushi Sunak “do little to improve the situation”.
