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October 13, 2022
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The euro falls after the inflation data

The euro falls after the inflation data

The euro fell today to its lowest value for two weeks against the dollarbelow 0.9650 dollars, after the publication of the US inflation figures, although it later recovered positions.

The euro It was trading at $0.9718 as of 15:15 GMT, down from $0.9677 in late European forex trading the previous day.

The European Central Bank (ECB) fixed the exchange rate of the euro at $0.9739.

Inflation in the United States fell again in September, for the third consecutive month, and placed its year-on-year rate at 8.2%, one tenth less than in August, but a higher figure than expected.

Core inflation (which measures the rise in consumer prices excluding those of food and energy) rose 6.6%, three tenths more than in August and seven more than July.

These figures show that inflation remains high in the US despite the aggressive increases in interest rates by the Fed, which could continue to increase the price of money with great intensity despite the negative effects on economic growth and employment.

The Fed has shown its determination to fight inflation with several interest rate hikes since March, three of them by 75 basis points, to between 3% and 3.25%.

The markets discount that the Fed will raise its interest rates in the two meetings it has until the end of the year by another 75 basis points, to 4.4%.

Weekly jobless claims in the United States rose to 228,000 last week, compared with 219,000 the previous week.

The single currency was traded in a trading band between $0.9636 and $0.9749.

Reliable, trustworthy and easy. Multimedia news agency in Spanish.

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