Foreign exchange market: the Euro, with the highest rate in over two years

The Euro has continued its ascent on Friday, and in the trade with the American Dollar to the highest level in more than two years. In the Morning, the price ro

Foreign exchange market: the Euro, with the highest rate in over two years

The Euro has continued its ascent on Friday, and in the trade with the American Dollar to the highest level in more than two years. In the Morning, the price rose to over 1.19 dollars and reached at 1,1905 Dollar, the highest level since may of 2018. In the course of the trading week, the common currency has gained more than two percent of their value. The European Central Bank (ECB) had set the reference rate last updated on Thursday afternoon to 1,1743 dollars.

The Euro is currently benefiting from a weakening us Dollar. Most recently weak economy have impacted on data from the United State's response to the American currency. As was announced on Thursday that the American economy had suffered in the second quarter, the worst decline since the beginning of the quarterly collection in the year 1947. In addition, the situation on the labour market of the country due to the Corona-crisis tense, and the number of initial claims for unemployment benefits rose more.

In addition, the escalation of the Corona-crisis in America, Amit a very high number of new infections attributed to the Dollar. Add to that a President Donald Trump expressed: the debate about a possible postponement of the date for the presidential election. According to observers, this resulted in additional uncertainty on the foreign exchange market.

Euro Dollar-EUR/USD -- -- (--) Deutsche Bank Forex vwdBNP Paribas 1T 1W 3M 1J 3J 5J For detail view
Updated Date: 31 July 2020, 10:19

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