©Reuters. Euro falls below $1.10 after US deficit data
Frankfurt (Germany), March 28 (.).- The euro has been changed this Monday below 1.10 dollars after the publication of data from the US economy, which show a small drop in the trade deficit in February.
The euro was trading at $1.0971 as of 4:00 p.m. GMT, versus $1.1003 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.0966 dollars.
The rise in the ten-year US Treasury yield to 2.55% prevents the euro from appreciating.
The US trade deficit was $106.6 billion in February ($108.9 billion in January).
Markets expect several 50 basis point interest rate hikes in the US this year as inflation expectations rise.
The single currency was traded in a fluctuation band between 1.0945 and 1.1000.
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