[ad_1]
© Reuters. The euro rises and is exchanged around 1,065 dollars
Berlin, Dec 20 (.).- The euro rose on Tuesday to $1,065, remaining stable thanks in part to the restrictive monetary policy that the European Central Bank (ECB) has signaled in recent days
The euro was trading around 4:00 p.m. GMT at $1.0647, compared with $1.0585 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0599.
Along with signals from the ECB, the euro was boosted by the German Ifo Institute’s business climate release, which rose for the third month in a row, rising 2.2 points in December as reported yesterday.
In addition, the Japanese central bank widened the trading range for long-term government bonds on Tuesday, an unexpected measure that was interpreted as a first step towards a future increase in interest rates and that put pressure on the dollar.
However, experts believe that the decline in Germany’s Producer Price Index (PPI), released today, which forecasts a slowdown in inflation, will act as a cap on euro gains, on the assumption that it could lead to the ECB to review their adjustment policies.
The single currency was exchanged in a fluctuation band between 1.0579 and 1.0660 dollars.
[ad_2]