FRANKFURT (dpa-AFX) – The euro's course changed direction several times on Wednesday in a volatile transaction following new Brexit speculation. At about twelve o'clock, the common currency was traded at $ 1.1030, about the same as in the morning. The European Central Bank (ECB) had most recently set the reference rate at $ 1.1007 on Tuesday afternoon.
Occasionally, the single currency had risen to $ 1.1060. First, the euro could benefit from a message from Bloomberg news agency. Therefore, the CDU parliamentary group in the Bundestag is prepared to think of higher government spending if an economic downturn requires a fiscal response. Even if the "black zero", so it targeted for several years, some budget surplus, then you are ready to discuss. Bloomberg referred to a person familiar with the matter.
A rally was evident in both the euro and the British pound following conflicting speculations about the Brexit negotiations. According to the latest Bloomberg information, the chance of a Brexit agreement between the UK and the European Union is quite small. The Northern Ireland DUP is opposed to a targeted compromise, which the agency learned from the British government.
On the other hand, EU negotiator Michel Barnier had recently seen progress towards a Brexit compromise. The talks were constructive, but there are still significant problems to be solved, Barnier reported on Wednesday at the European Commission meeting, which EU Commissioner Dimitris Avramopoulos then announced. EU and UK negotiators are trying to finalize a draft recall treaty later this day which can be approved at the EU Summit on Thursday or Friday. / Jkr / jsl / mis