The euro exchange rate fell again on Thursday due to the strong economic burden caused by the Corona crisis.
In the afternoon, the common currency was $ 1.0843. The night before, on Thursday, she had quoted over $ 1.09.
The euro also weakened against the Swiss franc and stood at CHF 1.0511 in the late afternoon. Shortly before, it had reached its lowest level since July 2015 at 1.0506. The dollar, on the other hand, was somewhat higher against the franc at CHF 0.9694.
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Market watchers pointed to continued dollar strength. Given the massive impact of the corona crisis on leading economies, the dollar is being sought as a supposedly safe alternative. The recent downturn in economic data from the United States has intensified the flight into the dollar.
For the fourth week in a row, millions of people in the United States have applied for unemployment benefits. In the week ending April 11, 5.2 million new applications were registered. As a result, around 22 million people lost their jobs within a month. In addition, the regional leading indicator for the Philadelphia region fell to its lowest level since 1980 in April, and the situation in the construction industry deteriorated significantly in March.
“Infection numbers are still increasing in the USA and so far there are no clear signs of a relaxation of the lockdown,” writes Patrick Boldt, analyst at Landesbank Hessen-Thüringen. “There is therefore no sign of a clear recovery in May.” The economic worries would be greater if the data were published.
For other major currencies, the ECB set the reference rates for one euro at £ 0.87163 (0.87385) and £ 117.12 (117.12) Japanese yen.
The troy ounce of gold (31.1 grams) was traded in London in the afternoon at $ 1,729. That was about $ 11 less than the previous day.
/ mf / ssc / jha / hr
FRANKFURT (awp international)
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