The euro held just above the three-month low against the US dollar marked the previous day on Wednesday.
In the morning, the euro cost 1.0735 dollars, slightly more than the previous evening. The European Central Bank (ECB) set the reference rate at $1.0731 on Tuesday afternoon.
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The euro has been under pressure over the past few days due to a stronger US dollar and speculation about an interest rate pause in the euro zone. The ECB will make its next interest rate decision next week. Remarks from the ranks of the central bank recently indicated that the key interest rates in the currency area could remain stable for the time being. The ECB would at least pause in the fight against high inflation.
In the middle of the week, order numbers from industry are on the agenda in Germany. In the USA, an important economic figure is expected with the ISM index for service providers. In the evening, the Federal Reserve publishes its regular economic report. No further rate hike is currently expected at the next Fed meeting in two weeks. High inflation in the US is trending downwards.
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FRANKFURT (dpa-AFX)