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The euro falls to $ 1.1250 amid the spread of the coronavirus in Europe By EFE

by souhaib
November 19, 2021
in Forex
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The euro falls to $ 1.1250 amid the spread of the coronavirus in Europe By EFE
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The euro falls to $ 1.1250 amid the spread of the coronavirus in Europe
© Reuters. The euro falls to $ 1.1250 amid the spread of the coronavirus in Europe

Frankfurt (Germany), Nov 19 (.) .- The euro has depreciated this Friday to $ 1.1250, the lowest since July 2020, given the spread of the coronavirus in Europe, which drives the purchase of currencies that are considered an investment safe as the dollar.

The euro was trading at around 16:00 GMT at $ 1.1318, compared to $ 1.1350 in the last hours of the European currency market trading the previous day.

The European Central Bank (ECB) set the benchmark exchange rate for the euro at $ 1.1271.

The new confinement in Austria and the restrictions in Germany have contributed to the depreciation of the euro.

In addition, the president of the ECB, Christine Lagarde, said that she does not want to “withdraw monetary stimulus prematurely in the euro area” so as not to hinder the economic recovery and because she is convinced that the current high inflation will subside.

The ECB’s chief economist, Philip Lane, said on Thursday that he does not see inflation expectations exceeding the bank’s target, which is a 2% rate in the medium term.

The expansionary monetary policy of the ECB does not invite investors to buy euros because the dollar and investments denominated in that currency are more attractive since the Federal Reserve (Fed) is going to begin to reduce its monetary stimulus and raise interest rates in USA.

The single currency was exchanged in a fluctuation band between $ 1.1250 and $ 1.1373.

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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