News > Dollar climbs, euro dips, as Biden brings sanctions plan to Europe

Dollar climbs, euro dips, as Biden brings sanctions plan to Europe

The dollar climbed on Wednesday while the euro weakened as oil prices shot higher again with U.S. President Joe Biden poised to announce, alongside European leaders, new sanctions against Russia during his trip to Europe.

Rising inflation has led many central banks, including the U.S. Federal Reserve, to take measures to rein in prices, such as by raising interest rates.