©Reuters. The euro falls to a low of more than two years against the dollar
Frankfurt (Germany), Apr 26 (.).- The euro fell this Tuesday to 1.0640 dollars, the lowest for more than two years, because risk aversion drives the purchase of dollars and their price.
The euro was trading around 3pm GMT at $1.0650, down from $1.0710 in late European forex trading the previous day.
The European Central Bank (ECB) set the exchange rate for the euro at 1.0674 dollars.
Durable goods orders in the US rose 0.8% in March from the previous month.
Consumer confidence faltered in the US in April, but Americans are not cutting back on spending.
But fears that China’s economy will stall its recovery due to new lockdowns and its central bank’s tight monetary policy are buoying the dollar.
The euro’s appreciation was not helped by comments from Bank of Latvia Governor Martins Kazaks, who favored starting interest rate hikes in the euro zone in July and three rate hikes this year.
The single currency was traded in a trading band between 1.0642 and 1.0739.