Foreign exchange: the euro fell a bit

Frankfurt (dpa-AFX) – The Euro pulled back a bit on Wednesday morning. At the start of trading, it was trading at $1.0705, slightly down from the previous night. On Tuesday, the euro rose to a one-month high of 1.0749. The European Central Bank set the reference rate at $1.0720 on Tuesday afternoon.

Gains were recorded in the morning. The country raised the key interest rate significantly by 0.5 percentage points for the second time in a row. Thus, it is one of the largest central banks that takes the most decisive action to combat high inflation. Central banks in the United States and Canada, among others, raised interest rates dramatically by half a percentage point. At the European Central Bank, opinions about such an approach differ.

Monetary policy is also likely to play a large role throughout the day. In the evening, the US Federal Reserve will publish the minutes of its latest interest rate meeting. Analysts and investors will search the text for clues about the future streak. The Fed is expected to raise interest rates further this year in order to curb high inflation.