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Foreign exchange: euro loses – mark of 1.13 US dollar holds barely

Tuesday, 12/28/2021 9:14 PM from

dpa-AFX

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NEW YORK (dpa-AFX) – The euro rate recovered slightly in US trading on Tuesday from its clear loss in late-stage European trading and broke the $ 1.13 mark again. Most recently, the European common currency cost $ 1.1302. The European Central Bank had set the reference rate at 1.1331 (Monday: 1.1312) dollars (dollar rate). The dollar had thus cost 0.8825 (0.8840) euros.

The euro has lost quite a bit of ground since its interim high of $ 1.2266 in May. The background to this is the emerging drifting apart of monetary policy in the euro zone and in the USA. While the US Federal Reserve is accelerating the exit from its loose monetary policy and, according to current forecasts, expects a total of three interest rate hikes in 2022, no rate hike is expected in the euro zone yet./jsl/edh/he

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