The US dollar is benefiting from an uncertain climate and is gaining ground. This Wednesday, it reached its highest level against the euro since July 2020.

Carried by the specter of inflation and the raising of the rates of the American Central Bank (Fed), the dollar continues its upward trend. Around 7:30 p.m. GMT, the dollar gained 0.38% to 0.8653 euros for one dollar, or 1.1556 dollars for one euro. Earlier in the day, the single currency had fallen to 1.1529 dollars for one euro, for the first time since July 22, 2020. The market is getting more and more used to the idea that the Fed will announce in November the deceleration of its debt buyback program, put in place with the coronavirus pandemic to support the American economy. On Wednesday the greenback was also supported by a general movement of risk aversion, linked to soaring energy prices, which is fueling the inflationary surge observed for several months.