Euro falls below $ 1.22 – Pound remains under pressure

Euro and dollar bills

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

(Photo: Reuters)

Frankfurt The euro remained under pressure on Monday, falling below the $ 1.22 mark. Most recently, the common currency was quoted at $ 1.2188. The European Central Bank (ECB) set the euro rate on Friday at $ 1.2259. Only last week, however, the euro had reached a high of around $ 1.2273 since April 2018.

The ongoing negotiations on a trade agreement between the European Union (EU) and Great Britain continued to prove to be a burden on Monday. The talks would fail if the EU did not “significantly” change its position, especially on the sticking point of fishing rights, the British media quoted government circles in London as saying. It becomes more likely that no agreement will succeed. Nevertheless, the negotiations should continue this Monday.

Against this background, the British pound also continued to decline against many important currencies. The new variant of the coronavirus, which is currently spreading rapidly in the south-east of England and threatens to paralyze economic activities even further, also had a negative impact.

More: Investors rely on these emerging market currencies.


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