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Foreign exchange: the euro is quite stable

Thursday, 01/06/2022 1:15 p.m. from

dpa-AFX

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

FRANKFURT (dpa-AFX) – The course of the euro hovered around the $ 1.13 mark on Thursday. Around noon, the common currency was trading at $ 1.1307 (dollar rate). The European Central Bank (ECB) last set the reference rate on Wednesday afternoon at $ 1.1319.

The increase in industrial orders in Germany in November was a positive surprise. “After the disastrous October data, incoming orders can pick up again in November,” commented Thomas Gitzel, chief economist at VP Bank. In addition to the strong incoming orders from abroad, the expert also referred to the plans of the new federal government for an ecological restructuring of industry and greater digitization.

In the morning, the euro came under brief pressure and fell to a daily low of 1.1285 dollars. On Wednesday evening, the rate came under pressure after the publication of the minutes of the latest interest rate meeting of the US Federal Reserve. The minutes show that the Fed members rate the inflation trend as higher and more stubborn than previously assumed. In addition, some members want to start reducing their balance sheets soon after the first rate hike.

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