The euro steadied on Wednesday after falling to a six-day low, reacting to the release of conflicting inflation data in Germany and Spain that created a difficult backdrop for European Central Bank policymaking.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The rouble pared gains in volatile trade on Wednesday as Russia's finance minister flagged possible interventions to ease upside pressure on the currency after it neared 50 against the dollar for the first time since May 2015.
* Dollar firm on safe haven demand. * Indian rupee hits new low. * Rouble nears 50 per dollar. By Sruthi Shankar. An index of emerging market stocks was on course to snap a four-day winning run on Wednesday amid fears of a global recession, while a firm dollar dented most other currencies as investors sought safe-haven assets.
The euro edged lower on Wednesday following release of conflicting inflation data in Germany and Spain that created a difficult backdrop for European Central Bank policymaking.
Sterling wavered near one-week lows against the dollar on Wednesday as concerns about slowing economic growth and political risks lingered a day after Scotland proposed an independence referendum. Investors will also pay close attention to remarks from Bank of England governor Andrew Bailey for any hints about plans to hike interest rates at its August meeting.
The Russian rouble rallied on Wednesday to its strongest levels in more than seven years, nearing 50 against the dollar for the first time since May 2015.
The dollar edged higher on Wednesday, keeping its index against major peers nestled below a two-decade high struck two weeks ago, with investors seeking safety in U.S. assets as stocks declined globally due to the mounting risk of a recession. The dollar index, which measures the greenback against six counterparts, ticked up 0.067% to 104.54, spurred mainly by weakness in the euro overnight.
Taiwan's central bank is still working on its digital currency and while it's unclear when the scheme could roll out to the public it will push ahead with it, governor Yang Chin-long said on Wednesday.
U.S. Treasury yields eased for a second consecutive day and the dollar rose on Wednesday after Federal Reserve Chairman Jerome Powell said there is a risk the U.S. central bank's interest rate hikes will slow the economy too much, but the bigger risk is persistent inflation.
The euro fell and the dollar rose on Wednesday after U.S. Federal Reserve Chairman Jerome Powell said the biggest risk to the U.S. economy is persistent inflation and not that interest rate hikes will slow the economy too much.
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