Dollar Pauses 3-Day Decline
The dollar index extend gains to around 106.7 on Wednesday, rebounding from a three-day drop, and approaching two-year highs touched early in the month, amid escalating Ukraine-Russia tensions after reports that Ukraine fired UK cruise missiles inside Russia for the first time.
Early in the week, President Putin has updated Russia’s nuclear doctrine to expand the conditions for using atomic weapons, minutes before it was reported that Ukrainian forces launched their initial attack on a Russian border area utilizing missiles supplied by the West.
In addition, markets are also closely watching for Donald Trump’s nominee for Treasury Secretary, with former Federal Reserve Governor Kevin Warsh and Apollo Global Management’s Marc Rowan emerging as leading contenders. The dollar gained the most against the Euro after the European Central Bank warned about the risks to financial stability in the euro zone posed by trade tensions.
Source : Trading Economics