Yen on back foot after US inflation data, euro buoyed by Ukraine peace talks

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Yen on back foot after US inflation data, euro buoyed by Ukraine peace talks - Channel News Asia

Quick Summary:

TOKYO : The U.S.dollar held near a one-week high against the Japanese yen on Thursday after a hotter-than-expected consumer prices reading, while the euro was shored up by news that Washington aims to begin talks with Russia to end the war in Ukraine.U.S.

President Donald Trump also said he would soon impose reciprocal tariffs on every country that charges duties on U.S.imports, keeping alive fears of a widening global trade war that threatens to accelerate U.S.inflation.

The Russian rouble surged overnight to a 4-1/2 month peak against the dollar.Sterling stood at $1.2456, up 0.09 per cent so far on the day.