©Reuters. The euro continues to fall due to the rise in the yield of US debt
Frankfurt (Germany), Apr 11 (.).- The euro depreciated this Monday, due to the upward trend in the yield of US Treasury debt and despite the fact that it had started the week with an appreciation above 1.09 dollars .
The euro was trading at $1.0898 by 3pm GMT, versus $1.0876 in late European forex trading the previous day.
The European Central Bank (ECB) set the exchange rate for the euro at $1.0900.
“The first round of the French presidential election has been slightly positive for the euro, as Macron appears to come into the second round against Le Pen in a slightly stronger position than expected,” Ebury analysts comment.
Statements by several members of the ECB Governing Council in favor of normalizing monetary policy more aggressively were also positive for the euro.
All eyes are now turning to the ECB meeting on Thursday this week.
Ebury analysts believe that “a slight change in tone” of the position of the president, Christine Lagarde, which has so far been moderate, “could have a disproportionately positive effect on the common currency.”
They also note that “the volatility of the ruble continues and the currency is now higher than it was before Russia began the invasion, but it is extremely illiquid and market quotes are increasingly meaningless.”
Furthermore, according to Ebury, “amid uncertainty in the forex market he is proving to be a rock for stability, as the currency has risen recently on a trade-weighted basis despite the economic slowdown. of the country and the drastic measures imposed by Covid”.
The single currency was traded in a trading band between 1.0874 and 1.0933.
