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© Reuters. The euro falls to 1.06 dollars after the comments of Powell (Fed)
Frankfurt (Germany), March 7 (.).- The euro fell on Tuesday to the level of 1.06 dollars, after the comments of the president of the Federal Reserve (Fed), Jerome Powell, in favor of accelerating the increases interest rates in the US.
The euro was trading around 4:00 p.m. GMT at $1.0605, compared with $1.0680 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 $1.0665.
Powell has warned this Tuesday that the Fed is prepared to accelerate rate hikes if the economic data justify it.
“If the totality of the data indicates that faster tightening is warranted, we would be prepared to accelerate the pace of rate hikes,” Powell told the US Senate.
The single currency was exchanged in a fluctuation band between 1.0594 and 1.0694 dollars.
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