© Reuters. The euro rises to the highest for two weeks near $ 1.14
Frankfurt (Germany), Nov 30 (.) .- The euro has appreciated this Tuesday to its maximum against the dollar for two weeks, close to 1.14 dollars, due to the selling pressure on the “greenback” in a risk aversion environment.
The euro was trading at around 3:45 p.m. GMT at $ 1.1335, compared to $ 1.1269 in the last hours of the European currency market trading the previous day.
The European Central Bank (ECB) set the benchmark exchange rate for the euro at $ 1.1363.
The annual inflation rate in the euro area increased eight tenths in November, to 4.9%, driven by an increase in energy prices of 27.4%.
The core inflation rate, which excludes the effect of energy and fresh food prices as they are the most volatile, increased to 2.6% in November.
The yield on 10-year US Treasury debt has fallen sharply, to 1.42%, the lowest for a month, due to risk aversion, which is why the dollar falls.
US Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen appear in the Senate at a sensitive time for the US economy, with inflation at highs, supply chain problems and fear of the omicron, the new variant of covid-19.
Powell warned Tuesday that the rise in COVID-19 and omicron cases could slow progress in employment and economic growth, in addition to adding greater “uncertainty” about inflation.
The single currency was traded in a fluctuation band between $ 1.1285 and $ 1.1383.
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