NEW YORK (dpa-AFX) – The euro exchange rate fell towards USD 1.11 on Wednesday. In New York trading, the common currency cost $ 1.1110. The dollar rose against it, not just against the euro. The European Central Bank (ECB) had set the reference rate at $ 1.1115 (Tuesday: 1.1112), which had cost the dollar 0.8997 (0.8951) euros.
On the moderate tones of the US President Donald Trump in response to Iran’s retaliatory attack on US military bases in Iraq, the euro on balance had reacted little. The Iranian attack had at most made itself felt on the foreign exchange market for a short time. The missile attack was a response to the United States‘ killing of senior Iranian general Ghassem Soleimani last week.
The euro, on the other hand, was burdened by weak order data from German industry. In November, orders to the sector that was important for the German economy declined significantly. In particular, fewer orders came from outside Europe. Bank economists were disappointed and spoke of an ongoing weakness in industry. The US dollar received tailwind from solid data from US jobs, The euro was additionally burdened by this./bgf/jsl/he/ajx/he