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2023-12-27 18:21:21
The euro climbed on Wednesday to its highest level since the end of July once morest the dollar. The single European currency peaked on Wednesday at $1.107.
Since mid-December, the euro has been rising, partly due to expectations that the US central bank, the US Federal Reserve, will no longer plan to increase interest rates due to slowing inflation across the Atlantic.
Several interest rate cuts are expected in 2024 and analysts assume the Fed will make larger cuts than other central banks, such as the ECB in Europe. The dollar also tends to weaken at the end of the year, partly due to reduced business activity. The euro has climbed 3.4% once morest the dollar this year.
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