Börse Express – Foreign exchange: Euro exchange rate remains at its lowest level in three years

The Euro met on Friday in
US trade has barely seen its losses in the past few days and
Can recover weeks. After the common currency in the early
European business again to a three-year low of 1.0827
Had recently fallen to $ 1.0840
a bit more. The European Central Bank set the reference rate
$ 1.0842 (Thursday: 1.0867). The dollar cost with it
0.9223 (0.9202) euros.

The euro has been under pressure since the beginning of the year
however since the beginning of February. The most important reason is
deteriorating economy. The trigger is that coming from China
Corona virus that not only burden economic activity there
likely. “The negative economic consequences for the Chinese
The economy will also feel the export companies in the euro area
“, said Commerzbank expert Christoph Weil.

New growth data showed that the economy of that
Corona risk afflicted in an already weakened state
becomes. The German economy was over one at the end of the year
Stagnation did not get out during the euro area in the fourth
Quarter had grown by only 0.1 percent. especially the
export-dependent industry has increased in recent months
extremely poorly developed. Recovery is due to the corona crisis
not in sight./la/he

 ISIN  EU0009652759

AXC0307 2020-02-14 / 21:00

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