The euro held above $1.15 in US trading on Tuesday.
Most recently, the European common currency, the euro, cost 1.1541 dollars. In early European trading, the euro was still trading at $1.1450. The euro exchange rate recovered somewhat from the losses of the past few days. The European Central Bank set the reference rate at 1.1498 (Monday: 1.1484) dollars.
The euro was supported by the recently very good mood on the financial markets. The background is the hope that the Iran war will end soon.
According to the Wall Street Journal, US President Donald Trump has told his advisers that he is ready to end the war. This should happen even if the strategically important Strait of Hormuz remains largely closed. Iranian President Massoud Peseschkian said in a phone call with European Council President António Costa that Iran has “the necessary will to end this war” but expects certain conditions to be met.
With the recovery, however, the euro only made up for part of its recent losses. At the end of February, the euro still cost around $1.18.
NEW YORK (dpa-AFX)
