Euro exchange rate hardly changed at 1.19 US dollars

Euro and dollar bills

The majority of global transactions are processed in these two currencies.


(Photo: Reuters)

Frankfurt The euro moved little on Wednesday. In the morning, the common currency was trading at $ 1.19, around the same rate as the previous evening. The European Central Bank (ECB) last set the reference rate on Tuesday afternoon at $ 1.1865.

The euro was able to hold on to the previous day’s gains and had risen above the $ 1.19 mark at times in the early morning. The common currency was supported by generally positive sentiment on the stock markets. The US leading index Dow Jones Industrial broke the 30,000 point mark for the first time on Tuesday.

In the further course of the day, economic data should move more into focus and provide new impetus on the foreign exchange market. While no key figures are expected in the euro zone, a lot of economic data will be published in the US in the afternoon, including another estimate of US economic growth in the third quarter and figures from the US labor market. In addition, the minutes of the latest interest rate meeting of the US Federal Reserve are expected in the evening.

More: Trump’s relenting reassures Asian investors – HSBC shares rise strongly.

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