A strong US jobs report put further pressure on the euro on Friday.
The common currency, the euro, continued its recent downward trend with a slide to $1.0214 – its lowest level since November 2022. It was last traded at $1.0246 in New York. The European Central Bank had set the reference rate at 1.0304 (Thursday: 1.0305) dollars and the dollar therefore cost 0.9704 (0.9704) euros.
Advertising
Trade EUR/CNY and other currencies with leverage via CFD (long and short)
Trade currency pairs like EUR/CNY with leverage at Plus500 and participate in rising and falling prices.
Plus500: Please note the instructions5 about this advertisement.
In the USA, employment rose more than expected in December and the unemployment rate surprisingly fell slightly. The US Federal Reserve Bank therefore has no reason to lower interest rates further for the time being, said VP Bank chief economist Thomas Gitzel. UBS experts expect two further cuts of 0.25 percentage points each in June and September. However, for this to happen, both the labor market and inflation would have to weaken in the coming months, it is said.
According to Peter Graf, chief investment strategist at Nikko Asset Management Americas, the current labor market report could even “herald the end of this Fed easing cycle.” Even one Interest rate increase He no longer considers the American monetary authorities to be out of the question as a next step.
/gl/he
NEW YORK (dpa-AFX)