Wednesday, September 27, 2023

The euro falls and is exchanged below US$1.09

He euro it was traded below the $1.09 level on Friday, after stabilizing after US Treasury yields fell.

The euro was exchanged around 15:00 GMT at $1,0872compared to US$1.0892 in the last hours of the European currency market trading of the previous day.

He European Central Bank (ECB) set the reference exchange rate for the euro at US$1.0867.

In general, there was a lack of impulses that moved the exchange rates because no relevant macroeconomic figures were published.

The data on the drop in general inflation for the euro zone in July up to 5.3% year-on-year (5% in June), but the core remained at 5.5%.

The rate of Underlying inflation It excludes energy, food, alcohol and tobacco because they are more volatile and it is what the ECB takes into account to decide on interest rates, which are now at 4.25%.

It is not clear what the European Central Bank is going to do in the coming months, if it will stop the increases in the price of money or if it will continue to increase them.

The single currency was exchanged in a band of fluctuation between US$1.0846 and US$1.0894.


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