© Reuters. The euro is exchanged on 1.04 dollars after the German business confidence
Frankfurt (Germany), Nov 24 (.).- The euro remained above $1.04 after improving business confidence in Germany, previously it had appreciated to $1.0450 after the Federal Reserve ( Fed) will hint at a smaller interest rate hike in December.
The euro was trading around 0930 GMT at $1.0420, up from $1.0370 in the final hours of European currency market trading the previous day.
The minutes of the last monetary policy meeting of the Fed show that most of its members consider it appropriate to reduce the pace of interest rate hikes soon, so the increase in December could be 50 basis points.
Also, many participants commented that there was great uncertainty about the final level of interest rates and that this limit will depend on the next economic data, although it will probably be “somewhat higher than they had previously expected.”
The dollar depreciated to its lowest level since August against the euro.
The European Central Bank (ECB) today publishes the minutes of its October monetary policy meeting, in which it raised the price of money by three-quarters of a point, to 2%, and announced the new conditions for liquidity operations at three years.