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Foreign exchange: Euro stable ahead of Ifo index and US flood of data

Wednesday, 11/24/2021 9:46 AM from

dpa-AFX

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Different currencies. © alfexe / iStock / Getty Images Plus / Getty Images

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FRANKFURT (dpa-AFX) – The euro initially barely moved in early trading on Wednesday. In the morning, the common currency cost 1.1240 US dollars, roughly the same as in the morning. The price is close to the low marked the day before since mid-2020. The European Central Bank (ECB) set the reference rate on Tuesday afternoon at 1.1259 dollars (dollar rate).

In the middle of the week, especially in the USA, there is a veritable flood of economic data on the program. 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.

In addition, the US Federal Reserve published its minutes of the latest interest rate meeting that evening. Analysts and investors are likely to scour the transcript for additional clues about the Fed’s monetary policy direction. The Fed has started to tighten its monetary policy somewhat by gradually scaling back its huge asset purchases.

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