Forex: Euro stable ahead of US inflation data

Wednesday, 01/12/2022 7:39 AM from


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

FRANKFURT (dpa-AFX) – The euro Moved little on Wednesday ahead of important US economic data. In the morning, the common currency was trading at 1.1374 US dollars, around the same level as the previous evening. The European Central Bank set the reference rate on Tuesday at 1.1336 (Monday: 1.1318) dollars (dollar rate).

The euro had already benefited from the renewed confidence in the financial markets on Tuesday. Investors interpreted the latest statements by Federal Reserve Chairman Jerome Powell on monetary policy as a sign of economic strength. In view of the good economic development and the high inflation rate, the latter had signaled an increase in the key interest rate for the period from March onwards.

New inflation data from the US will be released in the afternoon. Experts expect consumer prices to have risen sharply again in December. This could increase the pressure on the US Federal Reserve to tighten its monetary policy further./la/stk


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