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At its low, the common currency cost 1.1712 US dollars, the lowest it has since the beginning of November. In New York trading, the price was only a little higher at $ 1.1716. The European Central Bank (ECB) set the reference rate at 1.1741 (Monday: 1.1784) dollars. The dollar cost 0.8517 (0.8486) euros.
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The euro is under pressure mainly due to the appreciating US dollar. The American currency is currently benefiting from favorable growth prospects, which are also accompanied by concerns about inflation and rising yields on the US bond market. On the one hand, this is due to the considerable economic stimulus that the government under President Joe Biden is sending with its billion-dollar spending programs.
On the other hand, the corona vaccination campaign in the USA is going much more smoothly than in Germany. Europe is still stuck in the pandemic, while the United States is on the right track in overcoming the crisis, said DZ Bank analyst Sandra Striffler on Tuesday. Against this background, the displeasure of investors with regard to the euro is only too understandable.
NEW YORK (dpa-AFX)
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Dollar strength reasons euro rate falls fivemonth message