© Reuters. The euro falls below $1.0750 after Powell’s statements
Frankfurt (Germany), Jan 10 (.).- The euro depreciated on Tuesday below 1.0750 dollars, the highest since the beginning of June, due to the rebound in the greenback after comments by the president of the Federal Reserve (Fed ), Jerome Powell.
The euro was trading around 4:00 p.m. GMT at $1.0728, compared with $1.0748 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0723.
Powell declined to comment on monetary policy in his speech at the international symposium on central banking independence organized in Stockholm by the Sveriges Riksbank in honor of its governor Stefan Ingves, whose term is expiring.
But he defended the independence of the Fed and its determination to reduce inflation, even if interest rate increases constrain economic growth and trigger political criticism.
The single currency was exchanged in a fluctuation band between 1.0712 and 1.0756 dollars.