The dollar lifted out of lows as risk appetite soured in global asset markets, while the dollar bloc and other cyclical currencies wobbled. A side theme was provided by the euro, which managed to whittle out across-the-board gains, which saw EUR-USD print a four-month high at 1.2245, EUR-JPY a 37-month high, EUR-GBP a two-day peak, and EUR-AUD a three-month high. The dollar’s subsequent ascent, which was seen during the European morning, saw EUR-USD correct to levels around 1.2200.
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