The dollar is getting stronger. The U.S. currency continues to be supported by a general decline in risk appetite on world markets, due to growing fears of a recession in the U.S. and worldwide.

Inflation will drain Americans’ financial reserves and could lead to a recession sometime in the middle of next year, the head of JPMorgan Chase & Co (NYSE:JPM) said Tuesday. Jamie Dimon. His Goldman Sachs Group (NYSE:GS) colleague David Solomon also expects a recession in the United States in the coming months as the Federal Reserve (Fed) continues to tighten monetary policy.

Solomon estimates a 35% chance that the Fed can achieve a significant slowdown in U.S. inflation without triggering a recession in the economy. “That said, we have a reasonable expectation that we will still see a recession in one form or another,” The Wall Street Journal quoted Solomon as saying.

Is the dollar getting stronger against the euro? In the Euro / U.S. Dollar, the European currency fell by 0.06% – to $1.0461 compared to $1.0467 at the close of the previous session. The pound, by that time, fell by 0.07% to $1.2124 against $1.2133 the day before.

The dollar/yen rate rose by 0.26% to 137.35 yen against 137.00 yen at the close of the previous session.

The index, calculated by ICE, which shows the dollar dynamics against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) is stable after a steady rise in the previous two sessions.

Earlier we reported that ICE warned the EU about the consequences of the gas price cap.