Euro holds up above $ 1.22

Euro and dollar bills

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

(Photo: Reuters)

Frankfurt The euro moved little on Tuesday morning and stabilized above $ 1.22. Most recently, the common currency was quoted at $ 1.2220. The European Central Bank had set the reference rate on Monday afternoon a little lower at 1.2173 (Friday: 1.2259) dollars.

In late trading on Monday, both the euro and the pound sterling had nearly made up for their losses against the dollar. The reason for this was growing speculation about an imminent breakthrough in the question of future access for fishing trawlers from the European Union to British waters. A last-minute trade pact no longer seems to be excluded.

In early trading on Monday, news of the rapid spread of a mutated variant of the coronavirus in Great Britain initially put both the euro and the pound under heavy pressure. Meanwhile, the uncertainty among investors was also noticeable on Tuesday morning: the dollar, as a global reserve currency, gained against some important currencies.

More: Brexit and virus worries weigh on the pound – a historic low is looming


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