Euro price rises to $ 1.11 – the reasons | 19/8/19

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The euro has risen slightly on Monday.

In the afternoon, the common currency cost $ 1,1102. It was slightly higher than in early trading. The European Central Bank (ECB) set the reference rate at 1.1103 (Friday: 1.1076). The dollar cost thus 0.9007 (0.9029) euros.

The euro was somewhat supported by the overall positive mood on the financial markets. Vague relaxation signals in the US-Chinese customs dispute provided confidence. US President Donald Trump had spoken at the weekend of a good progress with China, but again stressed that he is in no hurry with a deal. In addition, markets speculated on a German program to support the economy.

Particularly vulnerable currencies such as the Swiss franc and the Japanese yen have come under particular pressure in this environment. Both currencies had recently benefited from the uncertainty arising from the trade dispute.

The British pound came under pressure against other major currencies. In London, an internal paper became known over the weekend, according to which the British government fears a lack of food, medicines and gasoline in the case of a no-deal Brexit. In addition, a month-long collapse in the ports, a hard border with the Republic of Ireland and rising social costs would be expected.

Among other major currencies, the ECB set the reference exchange rates for one euro at 0.91583 (0.91033) British pound, 118.34 (117.77) Japanese yen and 1.0884 (1.0854) Swiss francs. The troy ounce (about 31 grams) gold was traded in London in the afternoon with 1501 dollars. That was a good 12 dollars less than on Friday.

/ Bgf / jsl / jha /

FRANKFURT (dpa-AFX)

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https://www.finanzen.at/nachrichten/devisen/eurokurs-legt-auf-1-11-us-dollar-zu-die-gruende-1028455325

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