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NEW YORK (AWP International) – The euro remained under pressure Monday in US trade. The last European common currency was traded at 1.1695 US dollars. In Asian affairs, the price had climbed to $ 1,1750 at the same time
Against the franc, however, the euro still rose slightly. Currently, it is at 1,1613 francs, after tasting in the afternoon still 1,168 francs. The US dollar rose to 0.9930 francs after 0.9914 francs in the afternoon
Market observers have evoked a counter-movement movement on the foreign exchange market. Last Friday, US President Donald Trump put pressure on the dollar on all major currencies by submitting currency manipulation charges to China and the European Union. According to BayernLB's expert foreign currency expert Manuel Andersch, market reactions to Trump's statements were exaggerated: "The risk of a currency war comes from some analysts we consider excessive."
Significant gains were observed in the Turkish lira. On Tuesday, a much-awaited decision on the interest rates of the Turkish central bank is on the agenda. In a context of rampant inflation, the market is expected to raise interest rates by 1.0 percentage point to 18.75%.
Turkish President Recep Tayyip Erdogan has however vigorously contested the rise in interest rates and therefore the recourse generally accepted too much inflation. If the Turkish monetary authorities disappoint the anticipation of the foreign exchange market and decide not to increase the rates, the expert Andersch does not want to exclude significant losses of the lira
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