Dollar falls as investors uncover ECB hike, Russian gas restart by

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By Doris Yu – The dollar fell on Thursday morning in Asia as the European Central Bank prepared to raise interest rates for the first time since 2011 and a key Russian gas pipeline is expected to open. again later in the day.

Tracking the greenback against a basket of other currencies fell 0.19% to 106.87 by 11:44 PM ET (3:44 AM GMT).

The pair inched 0.05% to 138.27. The Bank of Japan left interest rates unchanged, even as it predicts more consumer inflation amid higher worldwide commodity prices.

The pair rose 0.11% to 0.6892 and fell 0.08% to 0.6222.

The pair rose 0.12% to 6.7637, while the pair inched 0.09% to 1.1980.

The euro held onto gains this week as investors expected the ECB could deliver a 50 basis point rate hike. In addition, the store will reopen on Thursday after a 10-day maintenance shutdown.

Investors debated whether ECB policymakers would deliver the previously signaled 25 basis point increase or the half point increase to rein in runaway inflation. The central bank will also likely unveil its new crisis management tool.

“Italian political uncertainty further complicates the ECB’s plans to provide details about its new defrag tool, in particular on the conditions for it to be activated.” ” and the lack of clarity is likely to drag on the euro,” National Australia Bank (OTC: ) currency strategist Rodrigo Catril wrote in a client note.

At the same time, the NAB is expected to increase by half a point and guide another half point in September” with the Bank aiming to raise its preload rate ahead of weaker conditions by the end of 2022 and into 2020. 2023, when the space may change, more limited,” said Catril.

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