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©Reuters. The euro is close to 0.98 dollars due to investors’ risk tolerance
Frankfurt (Germany), Oct 17 (.).- The euro rose this Monday to the level of 0.98 dollars due to investors’ risk tolerance, which distanced them from currencies traditionally considered safe, such as the greenback.
The euro was trading at $0.9802 at around 1500 GMT, versus $0.9740 in late European forex trading the previous day.
The European Central Bank (ECB) set the exchange rate for the euro at $0.9739.
The British Minister of Economy, Jeremy Hunt, announced this Monday that he cancels the planned reduction from 20 to 19% from April of the basic income tax band, in order to reduce public debt and calm the markets.
The British pound reacted with gains as yields on 10-year sovereign debt fell, dragging down 10-year US Treasury debt, weakening the dollar.
Business confidence in New York state worsened in October.
The Empire-State index of the New York Fed fell 7.6 points in October, to -9.1 points, compared to September, so economic activity in that region contracted more than expected.
The single currency was traded in a trading band between $0.9721 and $0.9804.
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