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Profit of the British pound – Euro continues below 1.10 Swiss francs 23/7/19



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The euro fell to $ 1.12 on Tuesday.

During the day, the euro fell to $ 1,1148, the lowest level since the end of May. Finally, New York was paid $ 1,1151.

In the meantime, the European Central Bank (ECB) has fixed the reference rate to 1.1173 (Monday: 1.1215) US dollars. The dollar stood at 0.8950 (0.8917) euros.

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In the meantime, the euro is also Swiss franc and, as on the previous day, it has briefly quoted a value of 1.10 to 1.0992 francs. This is a bit more than afternoon (1.0981 francs). The US dollar rises slightly to 0.9858 francs (afternoon: 0.9843 francs). Traders are responsible for the weakness of the single currency, including a future decision by the European Central Bank (ECB) on the interest rate. It is not excluded that the outgoing President of the ECB, Mario Draghi, wants to surprise the markets again, writes in the market.

But the weakness of the euro is also due to the dollar power raised by the debt ceiling agreement in the US. A day earlier, the US government and representatives of the US Congress agreed on a budget package and a debt ceiling. The agreement prevented a possible new stagnation of government issues. In addition, the circular message created a new hope in a trade dispute with China. Accordingly, a delegation of diplomats, led by the trade representative Robert Lighthizer, could travel to high-level talks on Monday in China.

With the British pound, after the decision on the new British President, the foreign exchange market moved. As expected, Boris Johnson won the race for the next Terezo May with the election of a new leader of the conservative party.

According to economist Peter Dixon of Commerzbank, he now faces the difficult task of coordinating Brexit's promises with reality. "Although the possibility of an unregulated Brexit rose in October, the probability is still estimated below 50 percent."

FRANKFURT (awp international)

Image Source: istockphoto / Photo Baby, Bloomberg, Vladimir Wrangel / Shutterstock.com, Keystone

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