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FRANKFURT (international awp) – The euro made a small uptrend against the US dollar on Wednesday. In the afternoon, the common currency is trading at $ 1.1723. So it's at the level of the previous evening. During the day, the trading range was about half a cent.
The movements of the euro / franc couple were not as pronounced. With currently 1.1640 the pair is approximately in the middle of the current range between 1.1619 and 1.1659. The US dollar, at 0.9930 francs last time, also costs about as much as Tuesday night.
Global political uncertainty first supported the dollar. The US government has submitted another list of possible punitive tariffs against China. China has announced "necessary countermeasures" in case of entry into force. So, another danger of escalation in the trade dispute is threatening.
In addition, US President Donald Trump strongly criticized Germany. "Germany is totally controlled by Russia," he said, referring to the construction of the Nord Stream 2 gas pipeline and, according to him, low defense spending. The dollar was sought in this environment as a safe alternative. As a result, the euro fell initially and fell at lunch time below $ 1.17.
In the afternoon, however, the common currency has re-established again. Traders refer to media reports that the ECB has differing views on when the first rate hike will occur. For example, according to some reports, some members of the ECB Council wanted to raise their interest rates as early as July 2019. Up until now, ECB President Mario Draghi has only reported an increase for # 39; summer.
The Canadian dollar rate is rising. The central bank raised its key interest rate by 0.25 percentage point to 1.50%. Despite the US trade dispute, further rate hikes have been announced.
For the other major currencies, the ECB moved the benchmark exchange rates for one euro to 0.88482 (0.888338) pound sterling, 130.53 (130.30) and the price of l. ounce of gold was set at $ 1251.40 ($ 1254.00) in the afternoon in London
/ jsl / tos / he
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