The dollar has strengthened against the euro and is holding steady against the pound following US inflation data.
Core Personal Consumption Expenditure – which measures the prices paid by people for domestic purchases of goods and services, excluding the prices of food and energy – did not rise as much as predicted. This could influence the Fed’s decision to raise interest rates.
US officials have argued that “Putin is being misinformed by his advisers about how badly the Russian military is performing” in Ukraine because they are “too scared to tell him”.
Markets now await US jobs data later today which will show how many jobs were created in March and will give an indication of how the economy is faring. The figures are expected to show a decline from 678k in February to 460k.
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