Foreign exchange: Euro holds up above $ 1.13

FRANKFURT (dpa-AFX) – On the Monday after Christmas, the euro rate was still well above 1.13 US dollars. The common currency reached its previous daily high at 1.1334 dollars and was most recently quoted at 1.1318 dollars. The European Central Bank set the reference rate on Thursday at 1.1310 (Wednesday: 1.1301) dollars. The dollar cost 0.8842 (0.8849) euros.

Market observers spoke of a continued low trading volume. Many of the moorings have already closed their books. In the last few weeks of the year there is hardly any market-moving economic news on the agenda.

The euro has been receiving some tailwind since the middle of last week due to the generally quite friendly mood on the stock markets. The US dollar was therefore rather avoided as a reserve currency, from which other currencies benefited. Recently, investors had been betting that the rapid spread of the omicron variant of the coronavirus in many countries around the world would not restrict global economic activities as much as initially feared. / La / nas

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