FRANKFURT (dpa-AFX) – The euro came under pressure on Thursday in view of robust US economic data. The common currency fell to $ 1.1764 in the afternoon. In the morning, the euro was still above $ 1.18. The European Central Bank (ECB) set the reference rate at 1.1763 (Wednesday: 1.1824) dollars. The dollar cost 0.8501 (0.8457) euros.
The dollar gained noticeably against most major currencies. In the afternoon it was supported by economic data from the US. Retail sales rose in August. Analysts, however, had expected a decline. In addition, the regional economic leading indicator for the Philadelphia region surprisingly improved significantly in September. Robust economic data could cause the Federal Reserve to loosen up faster than expected Monetary policy gets out.
The world’s leading currency, the dollar, also benefited from the tense situation in China. There a mixture of debt problems of the big real estate developer Evergrande and ongoing state intervention is causing uncertainty. The Chinese yuan was also under pressure against the dollar.
For other major currencies, the ECB set the reference rates for one euro at 0.85025 (0.85510) British pounds, 128.67 (129.11) Japanese yen and 1.0886 (1.0845) Swiss francs. The troy ounce Gold was trading at $ 1,751 in London that afternoon. That was around $ 42 less than the previous day./jsl/bek/men
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