The course of the euro expanded its daily profits in the US business on Tuesday and has climbed over $ 1.06.
The euro rose to $ 1.061 and thus reached the highest level this year. In the early European business, the euro had noted under $ 1.05. The European Central Bank set the reference course at 1.0557 (Monday: 1.0465).
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Above all, the newly planned government spending on the defense industry supported the euro. EU Commission President Ursula von der Leyen had proposed a plan to massively increase defense spending in Europe. In total, Europe can mobilize almost 800 billion euros, said von der Leyen.
In Germany, the Union and SPD want to enable billions of billions for defense. The debt brake for certain defense spending is to be relaxed in the Basic Law. The decision is to be made by the old Bundestag due to the complicated majority. The Union and SPD alone do not have the required two-thirds majority for a change in the Basic Law. You therefore need votes from Greens or FDP.
The US investment bank Goldman Sachs no longer expects the euro to fall back on parity to the dollar. Deutsche Bank also sees a lower probability of a case on parity. “The current wave of spending in Europe will lead to more cohesion and solidarity and strengthen the euro,” said Ales Koutny, economist at Vanguard Asset Management.
US President Donald Trump’s customs policy also burdens the dollar. China and Canada react to the new US import tariffs with counter-tariffs. Mexico also promised countermeasures, but initially left the exact details open. Many economists expect tariffs to burden US economic growth. The Mexican peso and the Canadian pound to the euro came under pressure. However, the course discounts were limited.
New York (dpa-Afx)