FRANKFURT (dpa-AFX) – The euro fell slightly on Monday in quiet trading. The common currency was trading at $1.0766 in the afternoon. In the morning it was still a little higher. The European Central Bank set the reference rate at 1.0776 (Friday: 1.0768) US dollars. The dollar therefore cost 0.9279 (0.9286) euros. Trade proceeded smoothly. There was a lack of impetus. No market-moving data was published in the Eurozone. Things also remained quiet in the USA due to a public holiday.
The question of the future monetary policy of the major central banks continues to dominate events on the foreign exchange market. In view of the reduced inflation, experts firmly assume that there will be interest rate cuts as the year progresses. However, the timing is uncertain. The European Central Bank is now seen in pole position for June, wrote analyst Rene Albrecht from DZ Bank. The US Federal Reserve could then follow suit in July. After all, the economy in the Eurozone is doing much worse than in the USA, as the growth figures for the fourth quarter recently showed.
For other important currencies, the ECB set the reference rates for one euro at 0.85448 (0.85605) British pounds, 161.59 (161.88) Japanese yen and 0.9492 (0.9491) Swiss francs. The troy ounce of gold was trading at $2016 in London in the afternoon. That was three dollars more than on Friday./jsl/bek/he
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The EUR/USD currency is trading down -0.09% at $1.077 on Forex at the time of publishing the news (February 19, 2024, 4:39 p.m.).