Currency: The euro is close to its lowest level of the year, although stable : Orishas-finance

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Currency: The euro is close to its lowest level of the year, although stable

27/02/2023

Categories: Economy/Forex

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Currency: The euro is close to its lowest level of the year, although stable

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The European currency regained its breath on Monday, February 27, 2023. However, with inflation persisting in the United States boosting the greenback, the euro is threatening to fall back below $1.05.

While stabilizing against the dollar, the euro was approaching its lowest point of the year. Around 10:00 GMT (11:00 CET) the euro reached 0.03% at $1,0551, after falling to $1.0533, the lowest since early January. The last element to have supported the dollar, PCE inflation, the index favoured by the US Federal Reserve (Fed) published on Friday, reached 5.4% over one year in the United States in January, up from the previous month.

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