Market participants widely believe the 98-level could act as the ceiling for the index, which officially publishes on a weekly and monthly basis. Suggestions from two Fed officials that a period of high inflation in the United States may last longer than anticipated lifted the greenback on Wednesday. It was the eighth consecutive softer fixing, the longest such streak since August 2019 - a time of sharp escalation in the Sino-U.S. trade war. By midday, it was changing hands at 6.4220, 251 pips weaker than the previous late session close. Thursday's midpoint was 67 pips weaker than Reuters' estimate of 6.4231.
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