The funding will support OVHcloud's plan to ramp up international development by opening 15 new data centres, of which 10 will be located in Europe, by the end of 2024. The loan is the first financing granted by the European Investment Bank to a pure cloud market player for a maximum amount, and is in line with the European Union's strategy to strengthen the continent's autonomy in new technologies, the EIB and OVHcloud said.
The U.S. dollar edged lower in early European trade Friday, on course to post a weekly loss on dovish signals from the Federal Reserve. The dollar has struggled of late as expectations of a less aggressive pace of U.S. monetary tightening as soon as next month saw U.S. Treasury yields sink to seven-week lows earlier Friday.
The U.S. dollar edged lower in early European trade Thursday, continuing the previous session's selloff after the minutes from the latest Federal Reserve meeting signaled a slowdown in future rate hikes. The dollar saw selling after the minutes from the latest Federal Reserve meeting revealed that a "substantial majority" of policymakers expected a slowing in the pace of rate hikes to soon be appropriate. The Fed raised its key rate by three-quarters of a percentage point earlier this month, for the fourth straight time in an effort to tame soaring inflation, but the minutes largely cemented expectations for a 50-basis-point hike in early December.