The U.S. dollar slipped lower in early European trade Wednesday - GEPLCapital
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News / Other data
* The dollar dipped on Wednesday after Federal Reserve Chairman Jerome Powell said that the U.S. central bank could scale back the pace of its interest rate hikes "as soon as December," helping to put the dollar index on track for its worst month since 2010.
* U.S. Treasury Secretary Janet Yellen on Wednesday said recent turmoil in the cryptocurrency market has not spilled over to the banking sector, but she remained skeptical about the industry and believed it needed adequate regulation
* The euro retreated against the pound on Wednesday after data showed euro zone inflation cooled off by more than expected in November, reinforcing the case for a slowdown in European Central Bank rate hikes next month.
* The EUR/USD pair hardly reacted to the positive European inflation surprise. The preliminary Eurozone CPI for November came in at 10%, down from 10.4% expected, and down from 10.6% the previous month
* The U.S. dollar slipped lower in early European trade Wednesday with risk appetite growing on hopes of China easing its tight COVID-related mobility restrictions, although moves are small ahead of a key speech by Federal Reserve chair Jerome Powell..
* As macroeconomic risks induce unprecedented levels of volatility in China's yuan, investors are betting that authorities may widen the currency's tight trading band for first time since 2014 to allow market forces greater say.
* Most Asian currencies crept higher on Wednesday as markets awaited more cues on U.S. monetary policy from Federal Reserve Chair Jerome Powell, althoug
Data inference
* No Major Event.
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