©Reuters. The euro rises to the maximum for a week
Frankfurt (Germany), March 17 (.).- The euro rose this Thursday to exceed 1.11 dollars, its maximum for a week against the dollar, due to the greater willingness of investors to take risks.
The euro was trading at $1.1109 as of 4:00 p.m. GMT, versus $1.1005 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.1051 dollars.
“Reports suggest that Ukraine and Russia have made significant progress on a tentative peace plan that includes a ceasefire and the withdrawal of Russian troops,” Monex Europe analysts believe.
The plan calls for kyiv to declare its neutrality, accept limits on its armed forces, give up its ambitions to join NATO and not host foreign military bases or weapons in exchange for protection from allies such as the US, UK or Turkey.
In addition, the president of the Federal Reserve (Fed), Jerome Powell, cooled down expectations of a rise in inflation.
The Fed yesterday raised interest rates by 25 basis points and could raise them six more times this year.
The president of the ECB, Christine Lagarde, warned that inflation in the eurozone countries could exceed 7% in 2022 as a result of the impact that the war in Ukraine has on energy and food prices.
The single currency was traded in a trading band between 1.1016 and 1.1111.
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