Euro stays above $1.22, at highs since February

By TPN/Lusa, in Business, News · 19-05-2021 17:54:00 · 0 Comments

The euro rose on 18 May and traded above 1.22 dollars, at highs since February, after members of the US Federal Reserve (Fed) indicated that monetary policy will remain expansionary despite inflationary pressure.

At 6.15pm (Lisbon time), the euro was trading at 1.2216 dollars, while on Monday, 17 May, it was trading at 1.2157 dollars.

The European Central Bank (ECB) fixed the exchange rate at 1.2222 dollars.

The increase in risk tolerance has weakened the dollar.

Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Monday, 17 May, that now is not the time for the Fed to start withdrawing support for the US economy, which has eight million fewer jobs than before the pandemic.

For his part, Fed Vice Chairman Richard Clarida said in a video conference call that he continues to anticipate temporary, not lasting, inflation, despite an acceleration in April.



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