The euro moved further away from its nine-month high against the US dollar touched on February 2nd, as market-watchers looked to the dollar for safe-haven buying amid expectations that the Fed would remain Hawkish. This comes after the recent PPI data which suggested that price pressures remain elevated in the US.
Meanwhile, and despite signs that the eurozone’s inflationary pressures may have peaked, and with a recession looming, the European Central Bank maintains its aggressive policy tightening.
