LONDON—The dollar eased from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell, while optimism over a possible loosening in China’s COVID-19 restrictions set it on course for its biggest monthly loss since late 2010.
Eurozone inflation in November showed the first monthly deceleration since June last year, as harmonized consumer prices rose by just 10 percent last month, compared with expectations for an increase of 10.4 percent in November, and against October’s final reading of 10.6 percent.
It is still more than five times the European Central Bank’s target rate. But after almost two years of near-relentless acceleration in inflation, markets could welcome any sign that the worst may be over….