Reviews Euro at its highest level in two and a half years

19:10  03 december  2020
19:10  03 december  2020 Source:   tagesspiegel.de

Asian issuers chasing records in the euro bond market: Chart

 Asian issuers chasing records in the euro bond market: Chart © Bloomberg Rush to Europe (Bloomberg) - Bond issuers from Asia issued euro-denominated bonds with a value of 5.3 billion euros this month. This means that emissions from the region in the common currency have reached a record level since the beginning of the year. Borrowers worldwide are raising unprecedented funds to help combat the effects of the pandemic.

FRANKFURT (dpa-AFX) - On Wednesday, the euro expanded from the previous day's high for two and a half years . In the morning, the common In the morning, the common currency cost up to 1.2084 US dollars and thus as much as last time in May 2018. The European Central Bank (ECB)

Photograph: iStock. The euro strengthened to its highest level against the dollar in more than a Data showing euro -area economic confidence jumped to the highest level in a decade will have The euro was also half a percent higher against the yen at 128.435 yen. A third of a percent gain for the

The Euro has continued to soar. On Thursday the exchange rate rose to 1.2173 US dollars and thus reached its highest level since April 2018. Since the beginning of the week, the common currency has been able to expand its high.

Am Nachmittag sorgten darüber hinaus Konjunkturdaten aus den USA für weiteren Auftrieb beim Euro. © picture alliance / Julian Stratenschulte / dpa In the afternoon, economic data from the USA also gave the euro a further boost.

The European Central Bank (ECB) set the reference rate at 1.2151 (Wednesday: 1.2066) dollars. The dollar cost 0.8230 (0.8287) euros.

"The euro is benefiting from the weakness of the dollar and the prospect of vaccinations against Covid-19," commented foreign exchange expert Patrick Boldt from Landesbank Hessen-Thüringen (Helaba). Against this background, weak economic data from the eurozone could not slow down the common currency. In November, the mood of purchasing managers in the services sector deteriorated significantly.

Joint bonds: New types of euro bonds strengthen the euro

 Joint bonds: New types of euro bonds strengthen the euro The joint financing of the corona aid creates a security with a high credit rating. That makes the European capital market more attractive. © Reuters The euro capital market still has to grow. In the USA , government bonds form a market of around $ 20 trillion. Even after the new euro bonds with a volume of 900 billion euros have been issued, Europe will still be a long way from this. But these papers are an important step on the way to making the euro a currency with international weight .

The euro was at a two - and - half year high against the dollar on Monday. I think strategically you can make the case that the dollar could see its status revisited downwards which would benefit "I think the question is at these levels for the dollar index … whether it could break down indeed and start

Fuel prices hit a two - year high in early February, according to the RAC. "Further upward pressure on prices looks inevitable in coming months as energy costs continue to climb and firms pass rising costs on to customers, pushing inflation up towards 3.0% in the second half of the year .

Video: Economic recovery stronger than expected (dpa)

In the afternoon, economic data from the USA further boosted the euro. Key figures on the mood of the purchasing managers in the service provider sector were also published here, which were weaker due to the second corona wave. The sector is particularly hard hit by measures to contain the pandemic.

There were also strong gains in the British pound, which reached its highest level in trading with the US dollar since December 2019. Market participants are still watching the negotiations on a trade agreement between the EU and Great Britain with suspense. Most recently, the hope of an agreement had given the pound a boost on several occasions.

For other major currencies, the ECB set the reference rates for one euro at 0.90358 (0.90490) pounds sterling, 126.49 (126.13) Japanese yen and 1.0831 (1.0819) Swiss francs. The troy ounce of gold (31.1 grams) was trading at $ 1,834 in London that afternoon. That was about three dollars more than the day before.

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