That is why the euro is losing its tailwind | 11/30/20


The euro suspended its most recent rally for the time being on Monday.

At its peak, the common currency, the euro, made it above the 1.20 US dollar mark for the first time since the beginning of September, but above this the tailwind was immediately lost. Most recently, less was paid at $ 1.1947. The European Central Bank (ECB) had meanwhile set the reference rate at 1.1980 (Friday: 1.1922) dollars. The dollar cost 0.8347 (0.8387) euros.

In the market, it was said that investors temporarily returned to the US dollar at the end of the month, while there was profit-taking in the stock markets. Due to a recent increase in risk appetite among investors, equities can look back on a strong November, while the dollar has recently been out of demand. In return, the euro had profited since the beginning of the month and gradually worked its way to $ 1.20.

Market observers had justified the recent strength of the euro, among other things, with the current development in the Corona crisis – with partial success in the fight against the second wave of infections and the prospect of the early availability of various vaccines. In addition, investors have been hoping for an amicable Brexit agreement for a few weeks.

/ tih / he


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