The euro fell to its lowest level in five weeks this morning, as the prospects for peace in Ukraine seemed to be darkening, while the kiwi was shaken after s that the central bank of New Zealand announced its biggest rate hike in twenty years to curb inflation.

Although the Reserve Bank of New Zealand's 50 basis point increase was larger than many economists had expected, it remained within traders' expectations, and policymakers tempered the move by not raising the expected peak for rates. The New Zealand currency has moved away from resistance around its 200-day moving average, while the central bank has presented its shares as an extension of the gains without changing its outlook. The market had a much higher maximum rate forecast than the central bank

The Bank of Canada is meeting later this Wednesday and is also expected to make its biggest rise since 2000, with monetary policymakers around the world starting accelerate their efforts to contain growing price pressures.

The yen enjoyed a moment of respite yesterday, when the US inflation data, slightly more moderate than pre have allowed bonds to recover and investors to <a href="https://www.dailyfx.com/francais/ibex-35" style="color:blue; text-decoration:underline" title="esp">esp that price pressures may have had reaches their peak.

Tuesday, Russian President Vladimir Putin described the peace negotiations as "a dead-end situation", which also weighed on the euro and the   sterling pound, who have been vulnerable to concerns about the fallout economics of war.

The  Australian dollar  and the Chinese yuan also weakened slightly after a surprise drop in Chinese imports reinforced investor concerns about weakening demand. The new restrictions in several Chinese cities to fight against Covid are also worrying investors.

In the United Kingdom, the annual inflation rate fell from 6.2% in February to 7% in March 2022, the highest rate since March 1992. The figures are higher than expected by 6.7%.