The euro fell below 99 cents for the first time in nearly two decades, while sterling was on the ropes on Monday as Russia's halt on gas supply down its main pipeline to Europe sparked concerns
The euro touched $0.9903 in early Asia, just above last month's trough of $0.99005. Sterling hit a 2-1/2-year low at $1.1458
By comparison, bets for a 75 bps increase by the Fed on Sept. 21, while higher at 70%, have receded from as much as 75% on Monday
The dollar held onto recent gains against the euro and sterling on Friday ahead of Federal Reserve Chair Jerome Powell's widely-anticipated speech, which traders hope will offer clues on the U.S. cent
The euro briefly rebounded back above parity with the dollar on Thursday as the US currency's recent rally ran out of steam
China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.
The S&P flash composite PMI, which tracks manufacturing and services, showed that a downturn in Germany, Europe's biggest economy, deepened in August due to high inflation and rising interest rates.
Heatwaves in the continent have already put a strain on energy supplies and worries are growing that any disruption during winter months could be devastating for business activity
China's yuan dropped to its lowest in nearly two years after the central bank cut key lending rates.
The safe-haven U.S. dollar hovered near a one-week high on Tuesday while the Aussie, euro and Chinese yuan remained under pressure as weak global economic data reignited recession fears.
"Europe is far more vulnerable at this stage, so it's reasonable to assume that the central and eastern currencies will underperform, especially if euro-dollar falls," said Piotr Matys
The U.S. dollar index, which measures the greenback against a basket of currencies, was up 0.22% to 105.93, after sliding 0.68% on Thursday, the largest fall since July 19.
Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine. Annual inflation in the eurozone's 19 countries rose to 8.9% in July, an increase from 8.6% in June, according to the latest numbers published Friday by the European Union statistics agency. Inflation has been running at its highest level since 1997, when record-keeping for the euro began. Energy prices surged by 39.7%, while food prices rose by 9.8% and other goods by 4.5%.
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 Fed hike.
He added that unlike earlier crises, the depreciation of the rupee against the US dollar was lower than other major global currencies such as the Swiss Franc, the Euro, the British pound and the Yen
NEW YORK (Reuters) -The U.S. dollar edged lower against the euro on Wednesday in a choppy session, but its losses were capped as traders were hesitant to drive big moves ahead of a crucial European Central Bank policy decision on Thursday.
Exchange rate of the rupee fell to Rs 79 per US dollar this week. Rupee also strengthened against G10 currencies like euro, yen and pound sterling. Find out the virtues and vices of depreciating rupee
The Indian currency, he said, has appreciated against several global currencies like British Pound, Japanese Yen and Euro.
The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday.
The comments late last week knocked the dollar off two-decade highs and boosted global stocks and non-dollar currencies, especially the euro.