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Foreign exchange: Euro falls again to low since mid-2020

Wednesday, 11/24/2021 1:20 PM from

dpa-AFX

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Banknotes of different currencies (icon image). pexels.com

FRANKFURT (dpa-AFX) – The euro gave in on Wednesday and has hit another low since mid-2020. At noon, the common currency fell to $ 1.1204, its lowest level since the end of June 2020. The European Central Bank (ECB) set the reference rate on Tuesday afternoon at $ 1.1259 (dollar rate).

The euro is currently burdened primarily by the clearly tense corona situation in many euro countries. Correspondingly, the corporate mood in Germany clouded over for the fifth time in a row. Economists interpreted the renewed decline in the Ifo business climate as a sign of economic stagnation, in the worst case even contraction. “At best, the German economy should stagnate in the winter half-year,” commented Commerzbank chief economist Jörg Krämer.

In the afternoon, a veritable flood of economic data is on the program in the USA. The reason is the national holiday “Thanksgiving” on Thursday, which many US citizens and authorities use for a long weekend. Therefore, many economic figures are preferred.

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