Wednesday, November 30

Foreign exchange: Euro continues to increase in US trade


NEW YORK (dpa-AFX) – The euro continued to gain in trade in the United States on Friday. The common currency was last listed at $ 1.1380. In European morning trading, it was quoted just above $ 1.13. The European Central Bank set the reference rate at $ 1.1326 (Thursday: 1.1334). The dollar cost 0.8829 (0.8823) euros.

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Shortly before the end of the year, the euro was lacking momentum. No major economic data was released in the euro zone or the US. Many retailers have already closed their books.

The euro is expected to end the year with significant price drops. At the beginning of January it was quoted above $ 1.22. The main reason for the downturn is the different monetary policy stance in the USA and the euro zone. The US Federal Reserve is taking a more determined approach to exiting its loose monetary policy. A first rate hike is expected in mid-2022. The ECB has not yet signaled an interest rate hike for the coming year./he



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