Thursday , June 30 2022

Foreign exchange: Euro exchange rate just above US $ 1.16 | 10/15/21


FRANKFURT (dpa-AFX) – The euro rate rose just over US $ 1.16 on Friday. Overall, however, movements at the end of the week were limited. More recently, the common currency cost $ 1,1602, roughly the first European business. The European Central Bank had previously set the reference rate at $ 1.1602 (Thursday: 1.1602). The dollar cost 0.8619 euros (0.8619).

Trade between the euro and the dollar was quiet and without major momentum during the day. U.S. economic data had contradicted the afternoon and gave no new direction to foreign exchange trading. Although the mood of industrial companies in the New York region has deteriorated significantly, American retailers were surprised by the growth in sales.

In September, revenue rose 0.7% year-on-year, while analysts expected a slight decline. According to chief economist Thomas Gitzel of VP Bank, sales data confirm the course of monetary policy of the US Central Bank (Fed). “The U.S. Federal Reserve can continue its course and reduce monthly security purchases as early as November,” Gitzel said. Earlier, the Fed had sent clear signals of a first step to get out of this year’s extremely weak monetary policy.

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