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© Reuters. The euro falls sharply against the dollar after the ECB rate hike
Frankfurt (Germany), Feb 2 (.).- The euro falls sharply against the dollar after the decision of the European Central Bank (ECB) to raise rates, and shortly after 3:30 p.m. the single currency lost 0.6 % and changed to $1.0921.
During the morning, a barrier that broke last night for the first time since last April has traded above 1.1 dollars, according to data consulted by Efe.
The president of the ECB, Christine Lagarde, has emphasized in the press conference after the decision of the entity that more increases are necessary for inflation to fall to its target of 2% and anticipated another rise of half a point in the next March meeting.
The euro lost parity with the dollar last July (when the ECB began to raise rates) and since it touched a minimum of 0.9536 dollars at the beginning of autumn, the currency has accumulated a revaluation of close to 13%.
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