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The euro rate recovered from its most recent gains on Monday.
In the afternoon, the common currency, the euro, cost $ 1.1955. By morning, the euro had briefly fallen to $ 1.1884. The euro had already risen on Friday.
The a href = “https://news.google.com/devisen/eurokurs” target = “_ blank”> The euro also recently rose a bit against the franc. The EUR / CHF currency pair was trading at 1.0777 in the afternoon after 1.0758 in the morning and Friday evening. For USD / CHF, this results in a – somewhat lower – 0.9015 (0.9039 in the morning, 0.9045 on Friday night).
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The euro remains supported by changes in the US Federal Reserve’s monetary policy targets Innovations announced last Thursday could lead to higher inflation in the US in the longer term, Commerzbank analyst Ulrich Leuchtmann expects. This should tend to weigh on the dollar. Also, the change in strategy is associated with greater uncertainty, which could also lead to a weaker US currency. The dollar fell against most currencies on Monday.
In the morning, attention initially turned to consumer price data. According to the European calculation method, consumer prices in Germany have fallen slightly year-on-year, while economists expected a slight increase. “This shows that the massive expansion of fiscal measures coupled with extremely flexible monetary policy has not yet had an impact on prices,” writes Ralf Umlauf, a foreign exchange expert at Landesbank Hessen-Thüringen. In Italy, prices fell even more than expected in August. There, economic output also slumped somewhat more dramatically in the second quarter than was initially determined. However, the euro rate was not affected by the data.
The Turkish lira has come under pressure against the euro and the dollar. Turkey’s economy has been hit hard by the Corona crisis. Economic output in the second quarter fell 11.0 percent compared to the first quarter. This is the steepest decline since records began in 1998. However, the decline was not as severe as feared. Therefore, the losses of the lira were limited.
The European Central Bank (ECB) set the reference rate at 1.1940 (Friday: 1.1915) dollars. The dollar cost 0.8375 (0.8393) euros. For other major currencies, the ECB set benchmark rates for one euro at 0.89605 (0.89468) British pounds and 126.47 (125.39) Japanese yen.
The troy ounce of gold (31.1 grams) was trading at 1974 in London that afternoon. That was a good $ 9 more than Friday.
jsl / jkr / he / year
FRANKFURT (international awp)
