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FRANKFURT (dpa-AFX) – The euro fell moderately on Monday. At noon, the common currency was $ 1.0940, slightly less than in Asia. On Friday night, the euro was still just below the $ 1.10 mark. The European Central Bank (ECB) set the benchmark rate at $ 1.0876 on the Thursday before the May holidays.
At the beginning of the week, the euro was particularly affected by the US dollar, which rose against many currencies. Traders cited mounting tensions between the United States and China as the reason. These are American accusations of blaming China for the crown pandemic. It is feared that the trade dispute between the two economic powers will flare up again. Therefore, the dollar as the world’s reserve currency was in greater demand.
Economic data continued to be worrying given the Corona crisis. The IHS / Markit Institute Purchasing Manager Index for the Manufacturing Industry Euro zone It fell to a record low in April. The Sentix analytical institute sentiment indicator increased slightly, but only stabilized near the all-time low reached in the previous month.
US industrial order data is expected in the afternoon. For the month of March, when the crown pandemic broke out in the US. In the US, a massive decrease of more than nine percent compared to the previous month is expected ./bgf/ssc/jha/
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