The euro grew noticeably on Monday.
The community currency euro cost $ 1.1442 in the afternoon. In the early trade, the euro had noticed around a cent lower. The European Central Bank set the reference course to 1.1419 (Friday: 1.1339). The dollar cost 0.8757 (0.8819).
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Leakers than expected, unusual US economy data put on the dollar. The mood in the US industry had deteriorated again unexpectedly in May. The shopping manager index ISM fell to the lowest level of last November. Economists had expected easy relaxation.
“The economic perspective of the sector remains cloudy and the interest reduction expectations regarding the FED tend to be strengthened,” commented Ralf Umlauf, economist at the Landesbank Helaba.
However, circulation warns of too much optimism with a view to key interest rates. It refers to the still very high value of the index for paid prices. “For its part, the FED indicated that because of the risk of inflation, it was not in a hurry with a loosening of the Monetary policy. “
Meanwhile, US President Donald Trump is again focusing on confrontation and provocation in the trade conflict. On the one hand, he had doubled the steel tariffs on the weekend and, on the other hand, tightened the tone opposite China. After he had accused the Chinese not to adhere to the agreements closed in Geneva almost three weeks ago, Beijing has now added the USA with sharp criticism.
After the Geneva talks, the US side “continued to issue new discriminatory restrictions to China,” said the Beijing Ministry of Commerce. Specifically, it called measures that further restricted the sale of AI chips and chip design software to China, as well as the announcement of a cancellation of Visa Chinese students in the USA. The new uncertainty loaded the dollar.
In addition to other important currencies, the ECB determined the reference courses for one euro to 0.8434 (0.84120) British pound 162.98 (162.96) Japanese yen and 0.9336 (0.9541) Swiss franc. In the afternoon, the Gense Gold cost $ 3,375 in London. That was about $ 86 more than on Friday.
New York (dpa-Afx)