The euro is once once more losing value once morest the US dollar, and in the last hours it was quoted at $1,015 USD in the international market.
Although the European currency managed to stabilize around 1.02 dollars, following being below the American note, it is now faltering once more following the publication of reports on rising inflation in the United States and the old continent.
in this very minute the euro is exchanged at a rate of 1.02which marks a slight recovery from the last few hours, and following yesterday’s European forex market trading.
For its part, the European Central Bank (ECB) established the reference exchange rate for the euro at $1.0198 dollars.
The increase in prices in the United States and Europe
According to analysts, these fluctuations are due to inflation data recently disclosed both in the United States and in Europe.
In the US, year-on-year inflation was calculated at 6.8% at the end of June, slightly higher than that of May, calculated at 6.3%. This is how it became known, from the price index for personal consumption expenses, an indicator followed by the United States Federal Reserve (Fed) to establish its monetary policy.
According to economic experts, this rise in inflation is due to the fact that US citizens spent more quickly in June than in previous months. This situation is really alarming, since it marks the negative record of the last 4 decades.
For its part, in the eurozone year-on-year inflation is estimated at 8.9%, with GDP growth of just 0.7%.
“As the French and Spanish inflation data this Friday morning exceeded all expectations, it is quite likely that inflation will climb to 9%. This would make us think more strongly of another 50 basis point rate hike by the ECB in September, which will offer the euro greater support for the weekend, “considered some analysts at Monex Europe.
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