At the start of the week, the euro rose to its highest level since spring last year. The European single currency was last on Monday at $ 1.0892 after climbing to $ 1.0903 overnight, the highest level since April 2022. In September last year, the euro was mainly due to concerns about It fell as low as $0.9536 following a sharp economic slump in Europe following the Russian attack on Ukraine. The forecasts for Europe are now somewhat more optimistic again.
In addition, ECB representatives, including President Christine Lagarde, confirmed last week that monetary policy would be significantly tightened to combat high inflation. The European Central Bank set the reference rate at $1.0826 (Thursday: $1.0815) on Friday afternoon. The dollar thus cost 0.9237 (0.9246) euros.
