Foreign exchange: the euro and franc weaken further against the dollar

The price of the Euro against the USD fell significantly on Thursday after a recovery period. References by the European Central Bank (ECB) to a gradual end to the ultra-loose European monetary policy only added momentum to the single currency. The franc also weakened further against the dollar.

In the New York trade, the euro fell to $ 1.2307, which cost a little less than in late European afternoon business. The European Central Bank (ECB) had set the reference rate at 1.2421 (Wednesday: 1.2417); the dollar cost 0,8051 (0,8054) euros.
The US dollar has become more expensive against the Swiss franc and will cost 0.9513 CHF on Thursday evening, almost a penny more than on Thursday morning. In the meantime, the EUR / CHF rate continues to hover around the 1.17 CHF mark, while in the evening the common currency was 1.1711 CHF after 1.1699 in the afternoon.
Commenting on today’s interest rate decision, European monetary authorities have dispensed with the wording that the ECB could expand its multi-billion bond purchases should conditions deteriorate. Economists see this as a signal to prepare the financial markets for an end to the flood of money. At the subsequent press conference, however, ECB President Mario Draghi assured that monetary policy will remain loose