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Börse Express – Foreign exchange: Euro continues to increase in US trading

NEW YORK (dpa-AFX) – The euro continued to grow in retail in the US on Friday. The common currency was last quoted at 1.1380 US dollars. In European morning trading, it had traded just over $ 1.13. The European Central Bank set the reference rate at $ 1.1326 (Thursday: 1.1334). The dollar cost 0.8829 (0.8823) euros.

Shortly before the end of the year, the euro was lacking momentum. No major economic data was released in the euro zone or the US. Many dealers have already closed their books.

The euro is expected to end the year with significant price drops. At the beginning of January it was quoted above $ 1.22. The main reason for the weakening is the different monetary policy orientation in the USA and the euro zone. The US Federal Reserve is taking a more determined approach to exiting its loose monetary policy. A first rate hike is expected in mid-2022. The ECB has not yet signaled a rate hike for the coming year./he

 ISIN  EU0009652759

AXC0094 2021-12-31 / 20: 55

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