©Reuters. The euro remains stable around 1,055 dollars
Berlin, May 20 (.).- The euro closed the day on Friday stable around 1,055 dollars, in a week in which it managed to recover slightly after weeks of downward trend.
The euro was trading around 15:00 GMT around $1,055, down from $1,058 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.0577 dollars.
The war in Ukraine and galloping inflation are responsible for weeks of decline for the community currency, although this has been reinforced in recent days by speculation about the expected rise in interest rates by the ECB.
On the other hand, many investors have sought refuge in the dollar in the face of uncertainty, which has boosted the prices of US Treasury bonds and reduced their yield.
The single currency was traded in a fluctuation band between $1.0540 and $1.0599.