©Reuters. The euro is exchanged around 1.09 dollars waiting for Biden
Frankfurt (Germany), March 8 (.).- The euro has changed this Tuesday around 1.09 dollars, waiting for the president of the United States, Joe Biden, to announce new sanctions against Russia and after having dropped on Monday to the lowest level since May 2020.
The euro was trading at $1.0877 by 4pm GMT, versus $1.0875 in late European forex trading the previous day.
The European Central Bank (ECB) set the exchange rate for the euro at 1.0892 dollars.
Biden will announce this Tuesday the ban on imports of , natural gas and Russia, in a new measure of pressure on Moscow for the invasion of Ukraine, according to several US media.
However, German Chancellor Olaf Scholz declared on Monday that the energy needs of the European Union (EU) could not be guaranteed without Russian imports, so it seems unlikely that crude oil imports could be banned in Europe in the short term. , although we do want to limit its dependency.
The change in willingness to take risks caused the euro to reverse some losses against the dollar.
“News about the possibility of the EU carrying out a massive joint bond sale to finance energy and defense spending has helped lift the currency as fiscal pressure eases to offset the impact of repercussion growth.” of the sanctions”, consider the analysts of Monex Europe.
The euro area economy slowed down in growth in the fourth quarter of the year, when GDP (gross domestic product) grew by 0.3% in the single currency area compared to an increase of 2.3% in the third trimester.
The single currency was traded in a trading band between 1.0849 and 1.0925.
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