The major currency pair’s latest losses could be linked to the market’s risk-off mood ahead of the key weekly event, namely Wednesday’s Federal Open Market Committee meeting. Also weighing on the quote are the geopolitical concerns surrounding Russia and Ukraine, as well as fears of the South African covid variant namely Omicron.
said on Friday that geopolitics and weather factors are driving energy prices higher, but that the ECB is not seeing wages being bid up. Lagarde added that demand in Europe is not excessive and, as a result, we are unlikely to face the same inflation as the US.
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