Euro holds at two-year high

Euros and dollars

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


(Photo: dpa)

Frankfurt Of the Euro remained close to its highest level in a good two years on Wednesday. In the morning, the common currency cost 1.1935 US dollars. The day before, it had reached the highest price since May 2018 at $ 1.1966. The European Central Bank (ECB) set the reference rate on Tuesday at $ 1.1906.

Experts are currently citing both reasons for a stronger one Euro as well as for a weaker dollar. Of the Euro has benefited for a few weeks from the European Union’s agreement on a large corona build-up package with joint borrowing. Positive for that Euro above all, the solidarity approach of the EU states and the fiscal convergence of Europe are assessed.

On the other hand, the dollar is being weighed down by a number of factors. These include the sharp fall in capital market interest rates in the USA, the political dispute over further economic aid and the conflict between the USA and China. In addition, there is uncertainty in the run-up to the presidential election.

More: You can read all the events and news about Covid-19 here in the Corona news blog

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