Germany.– The euro depreciated this Monday to the level of 1.08 dollars, after reaching a maximum for nine months at 1.0874 dollars, because the caution of investors drives the price of the green ticket.
The euro was trading around 4:00 p.m. GMT at $1.0821, compared with $1.0826 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0812.
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The negotiation was calm because the impulses of the US markets were lacking, which remained closed, since Martin Luther King Jr. Day is celebrated in the US.
The yield on the US Treasury debt at ten years stands at 3.50% and at two years at 4.22%. “Monetary policy continues to be the focus of the foreign exchange markets this week”, consider Monex Europe analysts.
The euro has benefited considerably from the milder climate and the lower withdrawals from natural gas inventories, as well as the increase in risk tolerance due to the improvement in the growth signals of the Chinese economy and the lower pressure on interest rates. americans.
“The currency is now trading more than 13% above the dollar from the multi-decade lows recorded in September 2022,” adds Monex Europe.
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Just over 1% of those gains have occurred in the first half of 2023.
However, according to Monex Europethe rise in the single currency is beginning to stagnate because the rise in the last five months has not been accompanied by capital inflows into the euro area, since certain doubts persist about the trajectory of European energy prices and, therefore, on the growth prospects of the euro area.
The single currency was exchanged in a fluctuation band between 1.0801 and 1.0874 dollars.
