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©Reuters. The euro rises and approaches parity
Frankfurt (Germany), Oct 25 (.).- The euro rose this Tuesday and approached parity after the publication of the fall in real estate prices in August in the US and consumer confidence in October, figures which put downward pressure on the dollar.
The euro was trading at $0.9954 at around 1500 GMT, versus $0.9882 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 0.9861 dollars.
The euro benefited from the stabilization of business confidence in Germany in October, as a much larger drop was expected.
Real estate prices fell in the US in August by 1.3% compared to the previous month, due to the rise in mortgage interest rates.
The markets are in a waiting period before the ECB meeting in which they anticipate that the Governing Council will decide to raise its interest rates by 75 basis points (they are now at 1.25%) to curb inflation of almost 10% in the euro area.
The single currency was traded in a trading band between $0.9850 and $0.9974.
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