Russian President Putin said if the situation escalates too far there will be no winners.

ECB President LAGARDE said there is broad consensus that the ECB is well positioned.

Dollar index traded near 102.25 in early European trade on Thursday after the Fed held rates unchanged at its October meeting as expected. Traders await Friday’s US September PCE inflation report. Carol Kong, FX strategist at Commonwealth Bank of Australia, said the Fed official’s refusal to signal further hikes was read as dovish or less hawkish than expected; some had anticipated guidance on the December meeting but none was provided. Mitsubishi UFJ analysts noted the official reiterated a commitment to return inflation to 2% and stressed persistent US economic strength, reinforcing that the tightening cycle may not be over. Markets price roughly an 87% probability of a December rate increase.