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Euro shows moderate rebound after publication of European Central Bank minutes

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The dollar fell to its lowest level since August against the euro at times.

of Euro stayed on $1.04 After the publication of the European Central Bank (ECB) meeting minutes and the improvement of German business confidence.

The euro traded at $1.0418 compared to $1.0370 in the last hours of European negotiations on the forex market the day before.

European Central Bank (ECB) Set the reference exchange rate for the euro to $1.0413.

Minutes of the ECB meeting on 26th and 27th October There was little impact on exchange rates.

The Minutes of the Meeting shall be taken by the majority of the members of the Governing Council. Support rate hike of 3/4 points although it also foresees technological recession “Some members of the economy have expressed their preference for raising the ECB’s interest rate by 50 basis points,” it said.

German business sentiment improved in November as business pessimism over the next six months eased. So the recession may not be as severe as many expected .

The euro rallied to $1.0450 after the Federal Reserve (Fed) signaled a reduction in rate hikes in December and as US economic activity contracted in November.

The minutes of the Federal Reserve’s last monetary policy meeting show that most of its members We believe it is appropriate to reduce the pace of interest rate rises as soon as possible. So December’s increase could be 50 basis points.

Many participants also commented that there was great uncertainty about the final level of interest rates and that this limit would depend on upcoming economic data, but would likely be “somewhat higher than previously expected.”

The dollar fell to its lowest level since August against the euro at times.

The single currency traded between $1.0383 and $1.0447.

Source: Biobiochile

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