The euro falls after Trump’s new tariff threats to Europe
The euro falls after Trump's new tariff threats to Europe
The euro fell on Wednesday, and lost $ 1.11, after US President Donald Trump threatened Europe with new tariffs on cars, while maintaining the Concern in the market for the outbreak of coronavirus.
The single currency was changed at 4:00 p.m. GMT to $ 1,1076, compared to $ 1,1098 in the last hours of the European trading of the foreign exchange market of the previous day.
The European Central Bank (ECB) today set the reference exchange rate of the euro at $ 1.1088.
The euro fell to its minimum value against the dollar for three weeks.
Fear of the coronavirus outbreak has unleashed a new wave of risk aversion in markets and preference for assets that are considered safe like the dollar.
However, the movements were limited because investors avoided aggressive positions before the ECB Governing Council meeting, from which monetary policy decisions are not expected, although comments on the revision of their strategy are expected.
The fluctuation band of the euro against the dollar today ranged between 1.1070 and 1.1099 dollars.