ZAGREB, Croatia Croatian lawmakers on Friday approved a law that paves the way for the introduction of the euro currency next year.Croatia is due to rep..
Measured against a basket of currencies, the dollar index had reached a five-year top of 103.28 and a further push above 103.82 would see it to levels not visited since late 2002.
Any step toward a ceasefire or potential peace deal in Ukraine would support the euro as Europe is seen suffering a significant economic blow from the conflict, which began with Russia's invasion on February 24.
The US announced a ban on imports of Russian seafood, vodka and diamonds and made it harder for Russia to access funds from the International Monetary Fund, as Washington and its allies ramped up sanctions
The US Federal Reserve and the Bank of Japan have policy meetings next week.
The euro was last off 0.4% against the dollar at $1.089 after dropping as much as 1% earlier and 3% over three days.
On Wall Street, the Dow Jones Industrial Average fell 0.53 percent, the S&P 500 lost 0.79 percent and the Nasdaq Composite dropped 1.66 percent
U.S. 10-year Treasury futures rose a full point, while the Russian rouble indicated as much as 25% weaker at a new record low around 112 per dollar.
Many details remain unclear but the office of French President Emmanuel Macron said the two leaders had agreed in principle to a summit on "security and strategic stability in Europe."
The standoff on Europe's eastern edge is one of the deepest crises in East-West relations for decades, and markets - and the euro - had rallied in relief at earlier Russian statements about a military pullback. A senior U.S. official told reporters on Wednesday that those statements were false.
The Russian defence ministry on Tuesday published footage to demonstrate it was returning some troops to base after exercises, however, U.S. President Joe Biden said the United States had not verified the move.
The unexpected jump in U.S. jobs created in January that also was reported last week raised the outlook for a faster timetable for Federal Reserve rate hikes too, poising tension between which of the two currencies will gain an upper hand.
The index, which measures the greenback against six major peers was at a three-week low of 95.271, having tumbled 2% this week – its biggest such fall since March 2020.
The euro sank with the British pound after the Netherlands went into lockdown on December 19 and Britain's health minister declined to rule out the chance of further restrictions before Christmas amid the rapid spread of the Omicron coronavirus variant
The greenback was near its strongest since early October against the riskier Australian and Canadian dollars, with the commodity-linked currencies also pressured by a slump in crude oil.
Volatility in the foreign exchange and the interest rate markets has increased during the week as they tried to digest central bank actions and economic reports.
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Russia long has moved to reduce the dollar's share in its hard currency reserves as it has faced waves of U.S. sanctions amid tensions with Washington and its allies.
A strong euro means Europe’s products become more expensive for customers who pay in other currencies, putting them at a disadvantage against foreign rivals
Renault said that the credit facility carried a guarantee from the French state - which owns a 15% stake in Renault - of up to 90% of the total amount borrowed.
The Dollar index gave away gains for the first time after three consecutive daily advances, coming under some selling pressure and closing the week at 99.26.
Euro zone inflation has undershot European Central Bank's target of almost 2 percent for seven years. Some academics argue that the nature of inflation has perhaps changed, making super-low consumer price growth the new norm