Financial market: Euro falls significantly - uncertainty increases again

The increased uncertainty on the financial markets weighed on the euro on Friday.

Financial market: Euro falls significantly - uncertainty increases again

The increased uncertainty on the financial markets weighed on the euro on Friday. In the afternoon, the common currency was trading at $1.0752. In the morning, the euro was still above $1.08. The European Central Bank (ECB) set the reference rate at 1.0745 (Thursday: 1.0879) dollars. The dollar thus cost 0.9306 (0.9192) euros.

The unrest on the financial markets rose again ahead of the weekend. "On the one hand, trust in the US regional banks has not yet been sufficiently restored," said Dekabank chief economist Ulrich Kater.

"In addition, the central banks made it clear that the recent frictions will not lead to a reversal of the monetary tightening course." Market participants would associate it less with a comprehensive banking crisis than with restrictions on lending and the associated braking effects.

Meanwhile, business sentiment in the euro zone has risen to a 10-month high. The recovery of the purchasing managers' index from S

Overview of other currencies

Currencies considered safe were in demand. In addition to the dollar, the Japanese yen also appreciated. Currencies of resource-producing countries such as Australia and Norway came under pressure. Commodity prices are currently falling due to growing economic concerns.

For other important currencies, the ECB set the reference rates for one euro at 0.87940 (0.88523) British pounds, 139.85 (142.87) Japanese yen and 0.987 (0.9969) Swiss francs. An ounce of gold was trading at $1,991 in London this afternoon. That was about two dollars less than the day before.

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