The euro gained noticeably on Monday and rose towards the $ 1.13 mark.
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Around noon, the common currency cost EUR 1.1280, a good half a cent more than in Asian trade. The European Central Bank (ECB) set the reference rate at $ 1.1213 on Friday afternoon.
The euro received a boost from the bank’s weaker dollar. The weakness of the American currency on the market was explained by the friendly mood on the stock markets. The dollar was therefore in somewhat less demand as a safe haven. Other currencies benefited from this.
Many investors are torn between stronger economic data on the one hand and rising corona infections in large economies on the other. The focus is on the United States, where infections are increasing particularly in the south and west of the country. As a result, some states are forced to take back restrictions on corona restrictions.
Economic data from the Eurozone once again indicated an economic recovery after the Corona slump. The EU Commission’s ESI sentiment barometer brightened at a record pace in June. Nevertheless, the economic mood only made up for around 30 percent of its slump in the corona crisis. Real economic data that would confirm the mood improvement are still pending.
/ bgf / jkr / jha /
FRANKFURT (dpa-AFX)
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