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The euro rises and approaches $ 1.11

The euro rises and approaches $ 1.11

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The euro rose today, approaching $ 1.11 and consolidating Monday’s appreciation, despite risk aversion due to increased uncertainty regarding trade negotiations.

The single currency was changed at 4:00 p.m. GMT to $ 1,1082, compared to $ 1,1070 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 $ 1.1071.

The US government announced new tariffs, this time on cheese, wine and bags from France.

The US said it will impose tariffs of up to 100% on French products worth 2.4 billion dollars after concluding that the French digital rate discriminates against US technology companies.

The European Commission (EC) and France coordinate the response to these tariffs.

US President Donald Trump also said he could wait another year before reaching a trade agreement with China and wait until after the US elections next year.

The euro had risen on Monday after the publication of US manufacturing activity figures, which were worse than expected.

The fluctuation band of the euro against the dollar today ranged between 1.1066 and 1.1088 dollars.

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