Friday, September 22, 2023

The euro remains below US$1.09 on caution

He euro It held below the $1.09 level today as investor caution drives greenback purchases.

The euro was exchanged around 15:00 GMT at $1.0880compared to US$1.0872 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$1.0908.

The euro recovered the level of US$1.09, but later lost positions in a negotiation in which there was a lack of relevant macroeconomic figures to move the exchange rates.

Concern remains in the markets about Chinawhich lowered its reference rate for one-year loans by ten basis points, to 3.45%, which put some pressure on the dollar.

But the increase in the profitability of the debt of the us treasury pushes the dollar up.

Wholesale prices fell in Germany in July by 1.1% compared to the previous month and by 6% year-on-year, figures that show that inflationary pressures are easing and supported the euro.

The single currency was exchanged in a band of fluctuation between US$1.0870 and US$1.0913.


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