Euro edges higher, but off peaks after French no-confidence vote; US dollar flat
euro rose marginally against the U.S. dollar on Wednesday, but came off session highs, after a widely expected collapse of the French government following a no-confidence vote by opposition lawmakers.
The greenback, on the other hand, was little changed overall, as the December interest rate cut chances remained on track amid signs that the American economy was slowing.
The South Korean won, one of the biggest movers on Tuesday, rose against the dollar, bolstered by suspected central bank intervention and the finance ministry's pledge of «unlimited» liquidity support to markets. That came a day after South Korean President Yoon Suk Yeol declared martial law in a late-night television address, only to lift it hours later.
The euro was slightly up against the dollar at $1.0512 after far-right and left-wing lawmakers joined forces to back a no-confidence motion against Prime Minister Michel Barnier and his government, with a majority 331 votes.
Barnier is expected to tender his resignation and that of his government to President Emmanuel Macron shortly. «At this point, it really becomes a question of how much worse the situation gets from here,» said Eugene Epstein, head of trading and structured products, North America, at Moneycorp in New Jersey.
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