Dollar loses steam, euro heaves sigh of relief ahead of ECB

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Reuters UK

By Rae Wee SINGAPORE (Reuters) – The U.S. dollar retreated on Wednesday as the euro extended its overnight bounce on relief Europe might be able to avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike. Russian gas flows via the Nord Stream 1 pipeline are seen restarting on time on Thursday after the completion of scheduled maintenance, Reuters reported on Tuesday. The euro was up nearly 0.2% in the early Asia trade to $1.0239, having posted its strongest daily gain in a month of 0.75% overnight. Aiding sentiment …

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