NEW YORK (dpa-AFX) – The euro remained slightly under pressure in US trading on Wednesday. The common currency most recently cost 1.0834 US dollars. In the Asian business it was quoted slightly higher. The euro briefly fell below $1.08 in early European trading. The European Central Bank set the reference rate at 1.0808 (Tuesday: 1.0856) dollars. The dollar therefore cost 0.9252 (0.9211) euros.
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In the Eurozone The economic sentiment determined by the EU Commission deteriorated in February. On average, economists had expected a slight improvement. Sentiment deteriorated in almost all key sectors. The only improvement was in consumer confidence.
The US economy grew a little weaker in the fourth quarter than previously known. However, economic development remains robust. The strong economic development had recently dampened speculation about imminent key interest rate cuts. The dollar benefited from this.
The New Zealand dollar suffered losses. The Australian dollar was also dragged down as the two countries are closely linked economically. The losses were triggered by the decision of the New Zealand central bank, which kept its key interest rate stable. Previously, observers had not completely ruled out an interest rate hike. However, the central bank signaled stable interest rates for the time being./la/he