AtlantisFX | The euro has risen on Wednesday. In the afternoon, the common currency cost $ 1,1385. In the morning he had recorded a little lower. The European Central Bank (ECB) set the reference rate at $ 1.3662 in the afternoon. The dollar cost 0.8801 (0.8781) euros.
The euro has already risen steadily in recent days and is currently at a high level. The day before, the common currency had climbed to a three-month high at $ 1.14. The dollar continues to suffer from the expected interest rate cuts in the US. US Federal Reserve Chairman Jerome Powell reaffirmed his willingness to cut interest rates the previous evening. US President Donald Trump has maintained pressure on the Fed to cut interest rates. The US should rather have ECB President Mario Draghi as the Fed Chairman rather than "our person in the Fed," he told broadcaster Fox Business Network. Trump also reaffirmed his belief that he had the right to downgrade or dismiss current US Federal Reserve Chairman Powell. Among other major currencies, the ECB set the reference exchange rates for one euro at 0.89603 (0.89485) British pound, 122.40 (121.97) Japanese yen and 1.1113 (1.1108) Swiss francs. The ounce (31.1 grams) of gold was traded in London in the afternoon at $ 1407, about $ 16 less than the day before.