Dollar weakens: the Euro is tearing round the brand and no longer rises as high as since 2018

In afternoon trading, the price rose to 1,1602 US Dollar, the highest level since 2018. Most recently, he was only a little less. In the Morning, the Euro trade

Dollar weakens: the Euro is tearing round the brand and no longer rises as high as since 2018

In afternoon trading, the price rose to 1,1602 US Dollar, the highest level since 2018. Most recently, he was only a little less. In the Morning, the Euro traded at times just over the brand of 1.15 dollars. The European Central Bank (ECB) set the reference rate on 1,1578 (Tuesday: 1,1443) US dollars. The Dollar cost thus 0,8637 (0,8739) Euro. Euro / US Dollar (EUR/USD) 1,1568 USD +0,0034 (+0,29%) Started OTC

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The Euro exchange rate from the midday momentum and rose to all major currencies. Again, increasing tensions between the United States and China created uncertainty in the markets. The United States have ordered the closure of the Chinese Consulate in Houston, Texas. Of the development, not the Dollar, but the Euro has not benefited, however, as is often in periods of uncertainty. Apparently, the confidence in the Euro has grown after the agreement reached at the EU summit.

the Euro benefited from agreement on a billion-dollar aid package

on Tuesday, the Euro had risen strongly, and to about one US Cent more expensive. Market observers justified the gains with the agreement reached by the EU heads of state and government a huge financial package. The inclusion of common debts of the EU States to deal with the Corona-crisis changes from the point of view of the German Finance Minister, Olaf Scholz, the political statics in Europe. "With this decision, Europe is responsible for his fate-a shared responsibility," said the SPD politician of the "time".

topic: Dollar in the end? Ironically, the Euro is suffering in the crisis for the haven of stability

The U.S. economy according to the experts, but also the high infection numbers in the United States. "The crisis is there anything other than overcome, and significant braking will leave traces in the economy," said Antje Praefcke, currency expert at Commerzbank. At the moment everything is looking a bit better for the Euro than for the Dollar. "One to Zero for the Euro in the fight against the Virus and the recession," said Praefcke. Devisen100 is the ideal consultancy service, if you want to make the first steps on the Forex. (Partner quote) here is an exclusive 30-day free trial!

To other major currencies, the ECB reference rates for the Euro on 0,91123 (0,90055) British pound, 123,94 (122,70) Japanese Yen and 1,0785 (1,0740) Swiss francs. An ounce of Gold (31.1 grams) was traded in the afternoon in London, in 1857 dollars. The were about 15 dollars more than the previous day.

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/Reuters
Updated Date: 22 July 2020, 18:26

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