©Reuters. The euro remains below 1.04 dollars after the drop in confidence in the US
Frankfurt (Germany), May 13 (.).- The euro remained below the level of 1.04 dollars this Friday after the publication of data showing a deterioration in consumer confidence in the US.
The euro was trading at $1.0393 by 3pm GMT, versus $1.0414 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.0385 dollars.
The greenback remained strong despite the fact that consumer confidence fell sharply in the US in May.
Federal Reserve (Fed) Chairman Jerome Powell boosted the dollar’s price by telling Marketplace radio that he expected the Fed to raise interest rates by 50 basis points at each of its next two meetings, but that they are prepared. to do more if the economic data make it necessary.
Analysts at Monex Europe expect the euro to “probably test parity for the first time in 22 years in the coming weeks.”
The euro area is facing high inflation and low growth as a result of the war in Ukraine.
The single currency was traded in a trading band between 1.0349 and 1.0420.
