NEW YORK (dpa-AFX) – The euro remained under pressure in US trading on Tuesday. The common currency was last quoted at 1.0845 US dollars, after it was temporarily above 1.09 dollars in early European business. The European Central Bank (ECB) set the reference rate at 1.0872 (Monday: 1.0890) dollars. The dollar therefore cost 0.9197 (0.9182) euros.
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Economic data fell during the day Eurozone disappointing. At the beginning of the year, consumer sentiment in the common currency area surprisingly deteriorated. The consumer sentiment indicator fell in January, according to data from the EU Commission, while analysts had expected sentiment to improve.
In addition, a regular ECB survey of banks revealed a further tightening of standards and conditions in the lending business at the end of last year. However, this was less pronounced in the final quarter of 2023 than in the previous quarters. Demand for bank loans continued to decline.
The exchange rate of the Japanese yen against the dollar was only able to increase for a short time. The country’s central bank had previously left the key interest rate unchanged, as expected. However, she was somewhat more confident that she would achieve her inflation target of two percent. Experts and investors are speculating on a first interest rate increase during the first half of the year./la/he