©Reuters. The euro rises after the minutes of the ECB on monetary policy
Frankfurt (Germany), Apr 7 (.).- The euro appreciated this Thursday after the European Central Bank (ECB) showed in the minutes that it is in favor of a normalization of monetary policy due to high inflation.
The euro was trading around 3pm GMT at $1.0910, versus $1.0920 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.0916 dollars.
A large number of the members of the Governing Council of the ECB were of the opinion in March that “the high level of inflation and its persistence called for more immediate steps towards a normalization of monetary policy”, say the minutes of the meeting of March 10, published today.
Previously the euro had depreciated because the minutes of the last monetary policy meeting of the Federal Reserve (Fed) show its willingness to raise interest rates more aggressively.
The real production of the German manufacturing industry grew in February by 0.2% compared to the previous month and by 3.2% in year-on-year terms.
The weekly number of applications for unemployment benefits in the United States fell last week to 166,000, compared with 171,000 applications in the previous week.
The single currency was traded in a trading band between 1.0865 and 1.0939.