In a hesitant market, the euro rose again on Wednesday against the dollar. It regains lost ground on Tuesday against the greenback. On the eve of important data in the United States and a meeting of the European Central Bank (ECB), the European currency continues its exploits against the dollar. Around 9:10 a.m. GMT (11:10 a.m. in Paris), the euro gained 0.10% against the dollar at 1.2186 dollars for one euro.
“If the indicator surprises on the upside, as it did in April, the dollar could appreciate again,” said Anthe Praefcke, analyst at Commerzbank. Investors are awaiting the publication on Thursday in the United States of the consumer price index (CPI) for May, a crucial signal of the evolution of American inflation even if the American central bank (Fed) uses another one.
In the long term, inflation weighs on the value of a currency, but traders bet on the fact that the Fed would be forced to tighten its monetary policy, which would make the dollar more attractive.

On the other side of the Atlantic, the ECB faces the same dilemma: controlling inflation while avoiding slowing the post-Covid-19 pandemic economic recovery. On the cryptocurrency side, the market is worried about the growing efforts of regulators to control the system. The bitcoin (+1.5% to 34,144 dollars) recovered after having stumbled to 31,036 dollars during the session the day before.