The euro exchange rate fell somewhat on Thursday.
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The common currency was trading at $ 1.0860 in the morning, slightly lower than the previous day. The European Central Bank (ECB) last set the reference rate at $ 1.0842 on Wednesday afternoon.
The euro was therefore unable to maintain gains after the Fed’s monetary policy decisions of the previous evening. However, the movements following the decisions of the American central bank were limited and the dollar weakness was not long-lasting. The Fed had left the key rate unchanged in the range of 0 percent to 0.25 percent. In addition, the monetary watchdogs pointed to enormous medium-term risks for the US economy due to the consequences of the corona crisis. “In view of the worsening of the corona crisis, one should be prepared for another long period of zero interest rates,” commented Uwe Burkert, chief economist at Landesbank Baden-Württemberg.
In the further course of trading, the Monetary policy in focus on the foreign exchange market. Further ECB decisions are expected in the early afternoon. Some analysts think it is conceivable that the European central bank could further expand its crisis interventions and expand security purchases to support the economy. In addition, numerous economic data from the Euro zone published, which could also stimulate trade in the euro.
/ jkr / ssc / mis
FRANKFURT (dpa-AFX)
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