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Foreign exchange: Euro gains somewhat in troubled environment | message


FRANKFURT (dpa-AFX) – The euro rose moderately in a fluctuating trade on Monday. In the late afternoon, the common currency cost $ 1.1240, slightly more than in Asian trade. At times, the euro had risen to $ 1.13, but was unable to hold gains. The European Central Bank (ECB) set the reference rate at $ 1.1284 (Friday: 1.1213). The dollar thus cost 0.8862 (0.8918) euros.


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The euro received a boost especially in the morning from a weaker US dollar. On the market, the temporary weakness of the American currency was explained by the friendly mood on the stock markets. The dollar was therefore in somewhat less demand as a safe haven. Other currencies such as the euro initially benefited from this.

However, the dollar gained some ground in the afternoon. Market participants cited solid data from the American real estate market as a reason. However, caution remains high among investors, not least with a view to the United States. There, the corona situation is becoming increasingly acute in view of the increasing number of new infections. The situation is particularly critical in the south and west of the country. This calls into question the prevailing picture of a rapid and clear economic recovery on the markets.

On other major currencies, the ECB set the reference rate for one euro at £ 0.91540 (0.90575), £ 121.07 (119.93) Japanese yen and 1.0669 (1.0631) Swiss franc. The troy ounce of gold (31.1 grams) was traded in London in the afternoon at $ 1770. That was about as much as on Friday./bgf/fba

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