NEW YORK (dpa-AFX) – The cautious hope of a rapprochement in Russia’s war against Ukraine supported the euro somewhat on Monday. The common currency was last seen at $1.0958 in US trade after hitting just under $1.10 a few hours earlier. The European Central Bank set the reference rate at 1.0960 (Friday: 1.0990) dollars. The dollar thus cost 0.9124 (0.9099) euros.
The players on the financial markets got hope because about two and a half weeks after the Russian invasion of the neighboring country, new negotiations between the two states took place on Monday. According to information from Kyiv, talks about an end to the fighting have been interrupted, but are to be continued this Tuesday. It is a technical break for talks in working groups and a “clarification of individual definitions,” explained Ukrainian presidential adviser Mykhailo Podoliak.
Crude oil and energy prices also developed positively for the euro zone, which is heavily dependent on Russia, on Monday with a significant drop in some places. The dollar, as the world’s leading currency, was less in demand under the impression that investors were more willing to take risks. The willingness to take risks was also expressed in the rising prices of European shares, which have recently come under particularly strong pressure./tih/jha/