Interest rates of the euro after Powell are again well above $ 1.13 | 28/11/18

The euro has jumped to the head of US Federal Reserve Governor Jerome Powell on the future interest rate policy in the United States on Wednesday.

He easily overcame the $ 1.13, below which he fell after weak economic data. About an hour before the closing of Wall Street, the common currency was trading at $ 1,1376. Sometimes he was getting closer to the $ 1.14 mark.

The European Central Bank had previously set the benchmark rate at $ 1.1284 (Tuesday: $ 1.1322). The dollar cost 0.8862 (0.8801) euro.

After disappointing data from the Nuremberg GfK on the consumer climate, the price of the euro had initially fallen to 1.2687 USD in the morning. After Fed Chairman Powell announced a more cautious approach to future interest rate hikes in a speech in New York, the dollar came under pressure. "We know that the economic impact of our rate hikes is uncertain," said Powell, noting that it could take up to a year or more for the impact to become visible. In particular, market participants interpreted this badumption as a possible reduction in interest rates in the coming year.

/ Cb / she

NEW YORK (dpa-AFX) –