Forex Today: Central banks are noisy ahead of US inflation data – by ValBednarik EURUSD XAUUSD CryptoCurrencies Fed Inflation
The American Dollar finished Wednesday little changed, despite some noise coming from major central banks. Investors awaitThe Bank of England Governor Andrew Bailey was once again on the wires this Wednesday amid the latest emergency program. Rumors that the central bank could extend its latest emergency founding program beyond this week triggered risk appetite early on Wednesday, although the BOE quickly denied such a possibility, sending investors back into the US Dollar.
UK Prime Minister Liz Truss aims to move forward with the mini-budget, despite criticism about the £60 billion funding hole. Truss repeated that she would not cut public spending, despite tax cuts and skyrocketing inflation.of the latest meeting. Policymakers repeated they are determined to maintain the restrictive monetary policy to control elevated inflation.
Despite being away from investors’ radar, coronavirus may soon become a theme across financial markets. China’s zero-covid policy is seeing fresh shutdowns in the country, with Shanghai closing schools, bars, gyms, and other venues. China is not alone, as Europe and the WHO warned about a new wave entering Europe, which could be complicated by a resurgence of flu.
The EUR/USD pair remains stable at around 0.9700, while GBP/USD has been a bit more volatile, ending the day at around 1.1100. The USD/CAD currently trades at 1.3810, while AUD/USD is up to 0.6280. The Japanese yen plunged against the greenback, with USD/JPY reaching a fresh multi-decade high of 146.96, holding on to gain as the Bank of Japan refrained from intervening.
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