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BREAKING
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation

Euro slumps amid Ukraine tensions

  • By Al Mayadeen Net
  • Source: Agencies
  • 26 Jan 2022 16:13
2 Min Read

After topping $1.12640 overnight for the first time since December 21, the euro fell 0.07 percent to $1.12945.

  • x
  • The euro fell to near one-month lows against the dollar.
    The euro fell to near one-month lows against the dollar.

On Wednesday, the euro fell to near one-month lows against the dollar and the yen, weighed down by fears of a military conflict in Ukraine and ahead of the Federal Reserve's conclusion of a meeting that might signal increased monetary tightening.

The Bank of Canada is also expected to declare policy later in the day, and the Canadian currency strengthened 0.21 percent in Asian trade as traders worried about the outcome, with prospects of a rate hike regarded as finely balanced.

After topping $1.12640 overnight for the first time since December 21, the euro fell 0.07 percent to $1.12945. It was slightly changed at 128.69 yen, after touching 128.25 in the previous session, also a first since Dec. 21.

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Bitcoin tops $120K as policy tailwinds and ETFs drive rally

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The majority of the market's anxiety was centered on the Fed, as traders anticipated signs on the timing and pace of interest rate hikes in the United States, as well as how the central bank plans to reduce its almost $9 trillion balance sheet, a process known as quantitative tightening (QT).

The first boost is expected in March, followed by three more quarter-point increases by the end of the year, according to money markets.

After soaring to 96.273 on Tuesday, its highest level since January 7, the dollar index, which measures the currency against six major peers, moved 0.06 percent higher to 96.030. From a two-month low on Jan. 14, it has rebounded as much as 1.74 percent.

Sterling GBP=D3 was unchanged at $1.3503 after falling to $1.3436 overnight, its lowest level in almost three weeks.

As for cryptocurrency, Bitcoin has stabilized at roughly $37,200. That follows a low of $32,950.72 at the start of the week, which was the lowest level since July. It has lost half of its value after reaching an all-time high of $69,000 in November.

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