Euro stable against dollar after Powell hearing

The euro stabilized against the dollar on Tuesday after the US currency collided to a one-month high soon after a parliamentary hearing with US Central Bank (Fed) President Jerome Powell.

Around 8:00 pm GMT (9:00 pm in Paris), the euro fell 0.12% against the dollar, to $ 1.2143 per euro, peaking around 07:45 GMT at $ 1.2180 a month. later. The dollar index, which compares the greenback to a basket of other major currencies, rose slightly (+ 0.16%). Along with members of the US Senate Banking Committee, Jerome Powell assured that the Fed would keep its rates low because inflation in the United States for the long term was not more than 2% and the US economy was not close to full employment. According to the manager, one remains “long road” Before achieving these two objectives.

Vaccination Campaigns and Caution

The British pound, for its part, was at its highest against the greenback in nearly three years, at $ 1.4106 (+ 0.31%), a peak of $ 1.4117. Against the euro, the pound sterling gained 0.42% to 86.08 pence, almost a year high. Rapid vaccination campaigns in the United Kingdom and the Bank of England (BoE) caution at negative rates have allowed the pound to return to its pre-epidemic level.

Finally, bitcoin continued to decline. From a high of $ 58,350.40 on Sunday, the most famous cryptocurrency stumbled over 17% and traded at $ 44,425.00.

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About the Author: Forrest Morton

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