Börse Express – Foreign Exchange: Euro falls well below 1.18 US dollars

Börse Express – Foreign Exchange: Euro falls well below 1.18 US dollars
Börse Express – Foreign Exchange: Euro falls well below 1.18 US dollars

FRANKFURT (dpa-AFX) – The euro Like other currencies, it came under pressure against the US dollar on Thursday. In the low, the common currency fell to $ 1.1761, costing a good half a cent less than the daily high. The European Central Bank (ECB) had set the reference rate the day before at 1.1824 dollars.

The dollar visibly appreciated against many currencies and thus also put the euro under pressure. A clear reason for this was initially not apparent. Market-moving economic data or news were not known. The generally friendly market sentiment spoke against the dollar, the world’s reserve currency.

The dollar may have benefited somewhat 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.

In the afternoon, investors will turn their attention to economic data from the USA. Figures from the retail sector are expected there, which give an indication of the strength of private consumption. In addition, the weekly labor market data and a mood indicator from the industry are on the program. Several high-ranking central bankers are making public appearances in the euro area, including ECB President Christine Lagarde./bgf/jsl/jha/

 ISIN  EU0009652759 

AXC0195 2021-09-16/13:08

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