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, Foreign exchange: Euro stagnates in directionless trading | message, Forex-News, Forex-News
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Foreign exchange: Euro stagnates in directionless trading | message

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, Foreign exchange: Euro stagnates in directionless trading | message, Forex-News, Forex-News


, Foreign exchange: Euro stagnates in directionless trading | message, Forex-News, Forex-News

FRANKFURT (dpa-AFX) – The euro barely moved on Wednesday in a rather low-momentum trade on balance. In the late afternoon, the common currency was priced at $ 1.1895, roughly the same as it was in the morning. Interim profits could not be maintained. The European Central Bank (ECB) set the reference rate at 1.1892 (Tuesday: 1.1894) dollars. The dollar cost 0.8409 (0.8408) euros.

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Trading between the euro and the dollar was without a clear direction in the middle of the week. Inflation data from the USA aroused greater interest, as they represent the background for the currently rising capital market interest rates. Inflation rose in February, which was, however, expected. The rising interest rates on the bond markets are currently supporting the US dollar in particular. The decisive factor for the development is the growth and inflation surge that is expected from the US government’s trillion-dollar economic stimulus package.

In the financial markets, the eyes are on the interest rate meeting of the ECB on Thursday. No serious monetary policy decisions are expected. However, the ECB’s rising capital market interest rates are increasingly causing headaches, as they are worsening financing conditions for consumers, companies and governments. So far, the central bank has mainly intervened verbally, but without having had any major impact. ECB President Christine Lagarde may again take a position on the issue.

For other major currencies, the ECB set the reference rates for one euro at 0.85655 (0.85704) pounds sterling, 129.12 (129.50) Japanese yen and 1.1069 (1.1071) Swiss francs. The troy ounce of gold was trading at $ 1,717 in London that afternoon. That was almost two dollars more than the previous day./bgf/jsl/men



, Foreign exchange: Euro stagnates in directionless trading | message, Forex-News, Forex-News

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, Foreign exchange: Euro stagnates in directionless trading | message, Forex-News, Forex-News

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