The euro is the morning after the meeting of the US-Notenbank Fed dropped to its lowest level since mid-August the night before. The rate of the common currency sank in early trading to 1,1738 US-Dollar and thus expanded the losses of the previous days. The price is thus also significantly different from the interim high of a little more than 1.20 US dollars that was reached at the beginning of September.
The euro had already come under pressure during the press conference of US Federal Reserve Chairman Jerome Powell that evening and temporarily slipped below the US $ 1.18 mark, but then recovered somewhat. In Asian and early European trade, however, the euro came under greater pressure again. According to traders and experts, Powell’s statements weighed on the euro. At the press conference following the interest rate meeting, he said that the Fed’s current monetary policy was appropriate. However, more fiscal support is likely to be necessary.