NEW YORK (dpa-AFX) – The euro fell on Wednesday. The European common currency last cost 1.1741 US dollars in late New York trading. The European Central Bank had set the reference rate at 1.1750 (Tuesday: 1.1757) US dollars. The dollar therefore cost 0.8510 (0.8505) euros.
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There is a lack of momentum on the last trading day of the year. In the USA, only initial jobless claims were published. These surprisingly fell again last week by 16,000 to 199,000. Economists on average had expected an increase to 218,000. In Europe, no market-moving economic data was released on New Year’s Eve.
As in the past few days, business is thin. Many market participants have already closed their books. In various European countries, the stock exchanges had their last trading day of 2025 on Tuesday.
Compared to the start of the year, the euro has gained noticeably against the dollar. In January the euro only cost around $1.04. US President Donald Trump had put increasing pressure on the Fed to lower interest rates. Further interest rate cuts are expected in the United States next year. The ECB, however, has no longer promised interest rate cuts. This tends to support the euro./he