FRANKFURT (dpa-AFX) – The euro remained stable below the $1.14 mark on Friday. In the morning, the common currency cost $1.1368, about the same as the previous evening. The European Central Bank (ECB) set the reference rate at $1.1370 on Thursday afternoon.
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Sentiment on the foreign exchange market was brightened somewhat by the prospect of further negotiations on the Ukraine crisis. According to media reports, the two foreign ministers of the USA and Russia, Antony Blinken and Sergey Lavrov, want to meet next week. Basically, the situation on the Ukrainian-Russian border remains tense. Russia has continued to amass large numbers of troops, but denies allegations of a planned invasion of the neighboring country.
Economic data are only a few on the program before the weekend. Statements by central bankers from the USA and the euro zone are likely to generate greater interest. In addition to the Ukraine crisis, monetary policy is currently the focus on the financial markets. In the USA, given the high level of inflation, a timely turnaround in interest rates is expected; in the euro zone, it is likely to be much later, despite high inflation./bgf/jha/