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Which is why the euro is falling towards $ 1.13

The euro gave way on Friday.

In the morning, the common currency, the euro, was at a low of 1.1310 US dollars, half a cent less than the daily high. The European Central Bank (ECB) set the reference rate on Thursday afternoon at $ 1.1345.

In the morning, ECB President Christine Lagarde confirmed that the central bank was still extremely loose, despite the increased inflation. A first rate hike in the corona pandemic will therefore be a long time coming. This prospect has been weighing on the euro for some time.

Meanwhile, new figures from Germany confirm the high inflation. As the Federal Statistical Office announced, producer prices rose by 18.4 percent in October, the highest they have been in 70 years. “That was again considerably above the worst fears,” commented analyst Jens-Oliver Niklasch from the Landesbank Baden-Württemberg. “Inflation should therefore remain a dominant topic in 2022 as well.”

/ bgf / jsl / mis

FRANKFURT (dpa-AFX)

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Reference-www.finanzen.at

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