Home / Business / Exchange rate: Euro ties under $ 1.13 | 06/12/19

Exchange rate: Euro ties under $ 1.13 | 06/12/19

NEW YORK (AP-AFX) – The Euro did not win its first win on Wednesday and made clear to the New York trade. The common currency dropped below $ 1.13. Last paid $ 1.185. The European Central Bank (ECB) had previously set the benchmark rate at $ 1,1323 (Tuesday: $ 1,1320). Thus, the dollar had cost 0.8832 (0.8834) euros.

The dollar rose against most major currencies. Nevertheless, speculation continues with interest rate cuts by the US central bank. Such expectations are increasingly heard in the euro area as well. Crucial to this are high political risks such as the many trade conflicts, the weaker economy of the world economy and the continued weak inflation.

This development also pushes the ECB to facilitate its already very loose monetary policy . Francois Villeroy de Galhau, Vice-President of France, a possible successor to the ECB President Mario Draghi signaled willingness to act in the middle of the week. "We will do everything within our mandate, and if the economy goes slower, we can do more," he said on French television. At the same time, he urged the political decision makers to resolve the trade conflicts the day before. / Bgf/jsl/jha/ajx/fba

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