FRANKFURT (dpa-AFX) – The euro rose on Wednesday. The hope that there is still a solution to the Brexit dispute supported the euro against the US dollar. In the afternoon, the common currency was priced at $ 1.1765. At noon it was down to $ 1.1720. The European Central Bank (ECB) set the reference rate at 1.1750 (Tuesday: 1.1787) dollars. The dollar cost 0.8511 (0.8484) euros.
The European Union (EU) wants to ignore the deadline set by Great Britain for an agreement on a trade pact and continue to negotiate intensively. This emerges from a draft of the final document for the EU summit, which was submitted to the German Press Agency. British Prime Minister Boris Johnson had threatened to withdraw from the negotiating table if a compromise with the EU was not found by October 15.
The financial news agency Bloomberg also reported, citing unnamed sources, that Britain does not want to break off negotiations with the European Union if no agreement is reached by Thursday. The pound sterling, which gained against all currencies, profited from the news. According to economists, because of its smaller size, the UK would suffer more from a breakdown of the talks than the EU.
The euro had recently been burdened by the high level of uncertainty on the financial markets. In addition to the negotiations with Great Britain, observers cite two main reasons: the tense corona situation in Europe and the stuck negotiations on new economic aid in the USA. The US dollar was sought as the world’s leading currency.
At other major currencies, the ECB set the reference rates for one euro at 0.90395 (0.90591) pounds sterling, 123.70 (124.38) Japanese yen and 1.0738 (1.0734) Swiss francs. The troy ounce of gold (31.1 grams) was trading at $ 1907 that afternoon in London. That’s around $ 16 more than the previous day./jsl/la/he