(In the last sentence it was specified that this was Friday’s price.)
FRANKFURT (dpa-AFX) – The price of the euro fell slightly on Monday. In the afternoon, the common currency was trading at $1.1445. In the morning it was quoted a little higher. The European Central Bank (ECB) set the reference rate at 1.1456 (Friday: 1.1467) dollars. The dollar therefore cost 0.8729 (0.8720) euros.
The President of the ECB, Christine Lagardehas advocated a measured response to the inflationary risks triggered by the Iran war. The central bank cannot ignore the price pressure caused by the war. “However, we do not yet see any signs of an unanchoring of inflation expectations or of second-round effects that would justify a more forceful policy response at this point,” Lagarde told the European Parliament’s Economic and Monetary Affairs Committee on Monday. The euro then weakened slightly.
Initial progress in negotiations between the USA and Iran for an agreement to end the war has had little effect on the foreign exchange market. According to US Vice President JD Vance, Iran wants to allow inspectors from the International Atomic Energy Agency (IAEA) back into the country. However, there is no timetable for this yet. “Encouraging progress” had already been made on Sunday, according to a statement distributed by the mediators from Qatar and Pakistan on the X platform.
For other important currencies, the ECB set the reference rates for one euro at 0.8729 (0.86653) British pounds, 185.33 (184.88) Japanese yen and 0.9257 (0.9248) Swiss francs. A troy ounce of gold (about 31.1 grams) cost $4,195. That was around 40 dollars more than on Friday./jsl/stw
