Safe-haven currencies strengthen after Russia updates nuclear doctrine

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Safe-haven currencies strengthen after Russia updates nuclear doctrine - Business Standard

Quick Summary:

The Japanese yen strengthened 0.43 per cent against the greenback to 154 per dollar and rose 0.48 per cent to 163.07 against the euro after strengthening to a six-week high of 161.50.

The dollar index, which measures the greenback against a basket of currencies, rose 0.1 per cent to 106.33 after reaching a high of 106.63 in the session, with the euro down 0.25 per cent at $1.0573.

In the latest comments from ECB policymakers, Fabio Panetta said on Tuesday the central bank should cut interest rates so they no longer curb economic growth, or so they even stimulate it, and give more guidance now that post-pandemic shocks are abating and inflation is normalizing.