The euro edged up against the dollar this Thursday after the Federal Reserve (Fed) announced a fresh rate hike and US second-quarter growth data was released.
At 18:00 (Lisbon time), the euro was trading at $1.0158 and was at $1.0114 on Wednesday at the same time.
The European Central Bank (ECB) has set the euro base rate at $1.0122.
The US economy contracted 0.9% year-on-year between April and June, posting a second-straight drop in gross domestic product (GDP), the Commerce Department said today.
According to published data, in the first quarter, US GDP fell by 1.6%.
On Wednesday, the US central bank announced a 75 basis point hike in the federal funds rate as it continues on its way to try to curb inflation, which hit 9.1% in June, a level not seen since 1981.
Federal Reserve Chairman Jerome Powell assured a press conference after the central bank meeting that the economy was not in recession, but acknowledged that there was a slowdown.
In Germany, the eurozone’s largest economy, annual inflation eased slightly to 7.5% in July, according to preliminary data released today.
Figures released by the Destatis Institute show that inflation is decelerating for the second month in a row as it stood at 7.6% in June, already slowing down from 7.9% in May.
Currency …………….Today ………..Thursday
Euro/dollar ………..1.0158………….1.0114
Euro/pound ………… 0.83741 ……………. 0.83971
Euro/Yen………………….136.64………..138.90
Dollar/yen………134.50…………….137.33
EO // EO
Lusa/end
Author: Lusa
Source: CM Jornal
