Euro climbs on peace talks, overshadowing expected Fed rate hike

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Reuters UK

By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) – The euro jumped on Wednesday amid signs of compromise by Russia and Ukraine in “more realistic” peace talks, while the dollar slid further from almost two-year highs reached over the past week as markets await a likely rate hike by the Federal Reserve. A stronger euro overshadowed the dollar index that has gained during the war in Ukraine. The Fed is expected to boost its benchmark overnight rate by 25 basis points when it releases a policy statement at 2 p.m. ET (1800 GMT), but the long-expected hike is unlikely to boost the greenbac…

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