Börse Express – Foreign Exchange: The euro is under great pressure

New York (dpa-AFX) – Euro She was under clear pressure on Wednesday. In New York trading, the cost of the single currency last reached 1.0808 US dollars. The European Central Bank set the reference rate at 1.0857 (Tuesday: 1.0882) dollars, so the dollar cost 0.9210 (0.9189) euros.

German inflation rose again in May for the first time this year, after its decline had already stopped in April. However, experts had already expected this development, so the data did not support the euro. The European Central Bank is still expected to cut interest rates again for the first time next week – by 0.25 percentage points. Inflation data for the entire eurozone will be published on Friday.

In contrast to the Eurozone, there are currently no signs of rapid monetary easing in the USA. The reason is stubborn inflation in the United States./gl/stk

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AXC0281 2024-05-29/20:59

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