© Reuters. The euro touches the 1.08 dollars before the decisions of the Fed
Frankfurt (Germany), March 22 (.).- The euro rose this Wednesday and touched 1.08 dollars, before the Federal Reserve (Fed) announced its decision on interest rates in an environment of greater risk tolerance .
The euro was trading around 4:00 p.m. GMT at $1.0792, compared with $1.0770 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 $1.0785.
Markets expect the Fed to raise interest rates by a quarter of a point today, to between 4.75 and 5%.
Investors will pay attention to Fed Chairman Jerome Powell’s comments on the collapse of Silicon Valley Bank.
The president of the ECB, Christine Lagarde, said this Wednesday at a conference that the entity does not commit “ex ante” to interest rates, so they are not committed to increasing them further, nor have they finished the increases.
The ECB has increased the price of money since July last year by 350 basis points, up to 3.50%, and these increases are now starting to take effect, according to Lagarde.
The single currency was exchanged in a fluctuation band between 1.0759 and 1.0799 dollars.