©Reuters. The euro is exchanged around 1.10 dollars
Frankfurt (Germany), March 22 (.).- The euro was exchanged around 1.10 dollars this Tuesday and has recovered some positions on the day after optimism in the financial markets improved and equities rose.
The euro was trading at $1.1020 around 4pm GMT, down from $1.1045 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.1024 dollars.
The euro had fallen after the chairman of the Federal Reserve (Fed), Jerome Powell, said that he can imagine interest rate hikes of half a point given the high inflation of 7.9% in February, the highest since 40 years.
Markets had so far priced in lower quarter-point increases for the rest of the year.
But throughout today’s trading the euro has recovered some positions due to increased risk tolerance.
The single currency was traded in a fluctuation band between 1.0961 and 1.1046.
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