After losses in European foreign exchange trading, the exchange rate of the euro in the New York currency business has not moved more. The shared currency was last seen trading at $0.9946, around the level of late trade in Europe. The European Central Bank set the reference rate at $0.9951 (Thursday: $1.0037) on Friday. The dollar had thus cost 1.0049 (0.9963) euros.
Robust economic data from the euro zone did not support the euro. Gross domestic product (GDP) in Germany rose by 0.3 percent in the third quarter compared to the previous quarter. On the other hand, economists had expected a decline in economic output in view of the economic consequences of the Ukraine war. France’s economy also continued to grow in the summer months despite the energy crisis.
NEW YORK (dpa-AFX)
