FRANKFURT (dpa-AFX) – The rate of the euro rose on Monday after a robust Ifo business climate. In the afternoon, the common currency rose to a daily high of 1.2154 US dollars after temporarily falling below 1.21 dollars in the morning.
The dollar cost 0.8242 (0.8238) euros.
The companies rated both their current situation and future prospects better.
“That was a clearly positive surprise,” said Uwe Burkert, chief economist at Landesbank Baden-Württemberg (LBBW). Apparently, the companies looked through the risks of a third corona wave. Even the hesitant progress in vaccinations has not dampened economic hopes in German companies.
The returns are an early indicator of the impact of the Monetary policy.
In contrast, the Brazilian real fell sharply, losing around two percent in trading with the US dollar. Brazilian President Jair Bolsonaro had previously fired the head of the petroleum company Petrobras and replaced him with a former military man. In the financial markets, the personnel decision is seen as an indication that the government wants to control the oil company more closely.
The troy ounce Gold (31.1 grams) was trading at $ 1809 in London that afternoon. That was about $ 25 more than on Friday./jkr/jsl/he
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