The euro continued to rise on Friday, rising to its highest level in almost two months. Overnight, the European common currency rose to US$1.0956, the same as last seen in mid-January. In the morning the price was only slightly lower.
The European Central Bank (ECB) set the reference interest rate significantly lower on Thursday afternoon at 1.0895 (Wednesday: 1.0874) dollar. In New York, the euro was trading at $1.0949 around 9 p.m. on Thursday.
The euro recently benefited from a weaker US dollar. Added to this was the strength of the euro on Thursday: With no signs of rapid interest rate cuts in the European currency area, the euro exchange rate continued to rise.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
