Foreign exchange: Euro little moved – threatening trade conflict is in focus

The price of the euro has come after his recent gains on Wednesday ultimately little from the site. In the New York trade, the common currency cost $ 1,2404, similar to the late European afternoon trade. The European Central Bank (ECB) had set the reference rate at 1.2417 (Tuesday: 1.2411) dollars; the dollar cost thus 0.8054 (0.8057) euros.

The focus on the foreign exchange market – as on the other financial markets – was the imminent trade conflict between the US and the rest of the world. The experts are waiting to see if US President Donald Trump follows up on his announcements of punitive tariffs on steel and aluminum imports. The day before, Gary Cohn had resigned, Trump’s top economic advisor. He is considered an advocate of free trade and had spoken out against Trump’s planned punitive tariffs.

The economic report of the US government (“Beige Book”) left the exchange rates as cold as the stock markets. Other economic news hardly moved.