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The euro rises sharply against the dollar after ECB President Lagarde's speech

The euro rises sharply against the dollar after ECB President Lagarde’s speech

Updates: 28.10.2021 17:59

London – The Euro is rising sharply against the Dollar today. This was contributed by a speech by the President of the European Central Bank (ECB) after the Bank left its monetary policy unchanged as expected. Reuters writes that Christine Lagarde’s comments, according to some currency traders, did not confirm the bank’s moderate stance.

The euro rose against the dollar around 17:50 CET by three-quarters of a percent to 1.1689 points. At the same time, the dollar index, which measures the performance of the dollar against a basket of six leading global currencies, fell more than half a percent to 93.30 points. The dollar fell 0.4 percent to 113.34 Japanese yen. The euro rose by 0.3 percent to 132.48 Japanese yen.

Ahead of Lagarde’s press conference speech, the Euro fluctuated a bit. As expected, the European Central Bank left its monetary policy unchanged, despite rising inflation in the Eurozone. Thus, the European Central Bank’s key interest rate remains at a record low of zero percent. The bank will also continue to buy bonds this quarter, but at a “slightly slower” pace than in the previous two quarters.

foreign exchange world

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