Frankfurt (dpa -AfX) – The euro gave in on Friday. The European Community Currency recently cost $ 1.0334. In the morning the euro had cost around $ 1.40. The European Central Bank (ECB) set the reference course in the afternoon to $ 1.0377 (Thursday: $ 1.0360). The dollar cost 0.9636 (0.9652).
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A robust labor market and increased inflation expectations of the US consumers supported the dollar. The labor market in the United States had continued to be robust at the beginning of the year. The employment development remained somewhat behind the expectations in January, but the previous month’s values were significantly revised. The unemployment rate sank and the hourly wages rose unexpectedly.
“This is once again a solid figure,” commented Thomas Gitzel, chief economist of VP Bank. The labor market is an important factor for the Monetary policy the US Federal Reserve Fed. “The better it is about the US economy, the longer the interest remains at a high level,” writes Gitzel. “The FED could even be forced to put the thumb screws back on.” So it does not rule out interest rate increases.
In the United States, the consumer climate raised by the University of Michigan has been clouded in February. The university justified the fear of a higher inflation triggered by tariffs caused a higher inflation. However, the increased inflation expectations of consumers also speak for interest rate increases.
In addition to other important currencies, the ECB determined the reference courses for one euro to 0.83353 (0.83688) British pounds, 157.77 (157.95) Japanese yen and 0.9418 (0.9385) Swiss franc. The Gubala Gold cost $ 2,868 in London in the afternoon. That was about $ 13 more than the day before