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On Wednesday, the euro expanded its maximum for two and a half years against the US dollar, which it had reached the day before.
In the morning, the common currency, the euro, cost up to US $ 1.2084 and therefore as much as last time in May 2018. Currently, US $ 1.2074, it is again slightly below.
The euro is currently at the level it last saw in early June. At 1.0865 francs, it is only slightly below its previous daily high. Meanwhile, the dollar has fallen below the 0.90 mark against the Swiss franc and costs 0.8998 Swiss francs. It was this low for the last time after the SNB raised the minimum exchange rate in early 2015.
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The market refers to the general weakness of the US dollar. Above all, the prospect of coronavirus vaccines is driving investors away from the global reserve currency, the dollar. The euro, the second largest currency in the world, benefits from this development.
As for the economic data on Wednesday, the figures of the second row with less importance for the market are mainly due. The exceptions are monthly unemployment figures from US service provider ADP, which serve as a guide for the government’s labor market report due to be released on Friday. At night, the economic report of the Federal Reserve of the United States expires.
bgf / zb / hr
FRANKFURT (international awp)
