FRANKFURT (dpa-AFX) – The euro changed little on Friday. The common currency held just above $ 1.18. It was trading at $ 1.1811 on Friday morning. The European Central Bank (ECB) last set the reference rate on Thursday afternoon at $ 1.1791.
On the foreign exchange market, the hope of an effective corona vaccine takes a back seat shortly before the weekend and the increasing number of new infections comes to the fore again. “The rally in the markets after the US election and the news of an effective vaccine has slowly come to an end,” said foreign exchange expert Thu Lan Nguyen from Commerzbank.
Since the morning the pound sterling has shown gains, which has risen against all other major currencies in morning trading. Market watchers pointed to media reports that influential British government adviser Dominic Cummings will be stepping down later this year. Cummings is an advocate of a hard Brexit. With the resignation, the chances for a regulated exit of Great Britain from the European single market are assessed as better.
As the day progresses, economic data should then come more into focus and provide new impetus for the foreign exchange market. The program includes data on the economic performance of the euro zone in the third quarter. After the Corona slump in spring, a strong economic recovery is expected in the summer months. In the afternoon, data on consumer sentiment in the USA could also move prices./jkr/jha/