The euro, below $ 1.16 after Lagarde’s comments By EFE

Frankfurt (Germany), Nov 3 (.) .- The euro has changed below $ 1.16 this Wednesday after the president of the European Central Bank (ECB), Christine Lagarde, said in Lisbon that it is “very unlikely “Let interest rates rise next year.

The euro was trading at around 4:00 pm GMT at $ 1.1584, compared to $ 1.1582 in the last hours of the European currency market trading the previous day.

The European Central Bank (ECB) set the benchmark exchange rate for the euro at $ 1.1578.

The comments of some members of the ECB in favor of a very expansionary monetary policy are holding back the appreciation of the single currency.

Lagarde, who attended today to commemorate the 175th anniversary of the Bank of Portugal (BdP), explained that it is very difficult for the conditions to be met for interest rates to rise, “despite the current increase in inflation.”

The Governor of the Bank of France, Francois Villeroy de Galhau, who is a member of the Governing Council of the ECB, said there is no need for the ECB to raise its interest rates in 2022.

Speculation is mounting in the market that the ECB is going to raise interest rates soon due to the sharp rise in inflation, but the ECB expects it to fall again in 2022.

The unemployment rate continued its progressive reduction, falling one tenth in the euro area, reaching 7.4%.

In the US, the private sector created 571,000 jobs in October compared to the previous month, according to ADP data.

Markets discount that the Fed will announce on Wednesday the beginning of the reduction of its monetary stimulus because the US economy recovers and inflation rises a lot.

The single currency was traded in a fluctuation band between $ 1.1562 and $ 1.1599.

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.