Euro rises towards 1.20 dollars

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Euro and dollar bills

The majority of global transactions are processed in these two currencies.

(Photo: Reuters)

Frankfurt The euro continued to gain on Monday. The common currency peaked in the morning to $ 1.1977, its highest level since late August. The European Central Bank (ECB) set the reference rate on Friday afternoon at $ 1.1922.

Over the past few weeks, the euro has gradually worked its way towards 1.20 dollars. It benefited from a weakening US dollar. However, the price movement was not uniform. For example, the dollar had benefited from solid economic data at times.

At the start of the week, some economic data is due. In Europe, inflation figures in particular are expected. In the US, an industry sentiment indicator and real estate market figures are published.

More: Why the gold price reacts so negatively to a corona vaccine



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