The euro was trading at $0.9964 around 5pm. Expectations that interest rates in the United States will rise faster than in the eurozone continue to weigh on the Community currency.
Euskaraz irakurri: Euroak balioa galdu du berriro dolarraren aurrean
The euro closed below the dollar on Monday, a one-to-one rate it had already reached in mid-July.
The euro was exchanged around 5 pm. $0.9964, up from $1.0045 in European forex market trading at the end of Friday. The European Central Bank (ECB) has set the exchange rate for the euro at $1,001.
Despite initial pressures, the euro managed to recover by midday, although the improvement did not last and remained permanently below the dollar in the final hours of trading.
Expectations that interest rates in the United States will rise faster than in the eurozone continue to weigh on the community currency, whose price has also been impacted by the effects of uncertainty over the future of Russia’s gas supply.
The Bundesbank (Germany’s central bank) considers it very likely that the eurozone’s locomotive will shrink in the second half of the year and predicts high inflation, up to 10%.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
