The price of the euro has risen significantly on Tuesday in both the US dollar and the Swiss franc. The common currency jumped above $ 1.24 in the afternoon and was able to defend it into the evening. In US trade, one euro cost $ 1,2408. The European Central Bank (ECB) had set the reference rate at 1.2411 (Monday: 1.2307). The dollar cost thus 0.8577 (0.8126) euros.
The euro also extended its advances even further towards the Swiss franc in the evening, trading at a daily high of CHF 1.1668, after trading below CHF 1.16 in the morning. The US dollar has become somewhat more expensive than the Swiss currency and trades 0.9403 CHF in the US after 0.9388 CHF in the afternoon.
Market observers explain the gains of the euro with dollar weakness triggered by recent political developments in the North Korea conflict. Around noon it was announced that North and South Korea want to hold a summit meeting at the end of April. The North Korean side also said during the talks in Pyongyang that there was no reason to possess nuclear weapons if security guarantees were made, they said.
The signals for a relaxation of the North Korean crisis are giving more risk to the financial markets, while investors have avoided traditional safe havens such as the US dollar. A similar price development was also evident in the Japanese yen, which also came under pressure.