The euro exchange rate slipped into the red on Wednesday, even before the minutes of the most recently published meeting of the US Federal Reserve.
A few hours ago, prices were temporarily listed above the 1.09 US dollar mark, but recently it was only 1.0889 dollars. The European Central Bank set the reference rate at 1.0916 (Tuesday: 1.0926) dollars. The dollar thus cost 0.9161 (0.9152) euros.
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The euro was supported a little early in the day (CEST) by better-than-expected economic data from the euro zone. Industrial production had surprisingly increased in June, albeit only thanks to energy production. In addition, an increase in economic output in the common currency area was confirmed in the second quarter.
However, as minutes of the most recent Fed meeting drew closer, the dollar strength of the past few trading days continued. Then it became clear that the US Federal Reserve was leaving the door open for further rate hikes. “Most participants continued to see significant upside risks to inflation, which could mean further tightening monetary policy could make necessary,” says the protocol. However, there was no clear indication of how to proceed.
/teh/he
FRANKFURT (dpa-AFX)