The rate of the Euro has changed on Thursday at first.
The European common currency, the Euro cost on the morning 1,1245 US Dollar. He was on a level with the eve.
Also the Swiss franc, the Euro moved only a little. The decision of the Swiss national Bank (SNB), to not change the key interest rate was expected, and the currency exchange rates influenced, therefore, only minim. The Euro currently costs 1,06755 francs to 1,0666 francs on the eve. The US Dollar will continue to remain below the mark of 95 cents, and is traded to 0,9495 francs.
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SNB holds, as expected, expansionary monetary policy
The SNB does not touch in the middle of the Corona-crisis interest rates, and thus continues its expansive monetary policy. Specifically, the SNB is leaving its key interest rate and the interest rate on sight deposits at -0,75 percent, as announced in the monetary policy assessment.
The SNB also emphasised their intention to intervene if necessary, continue to be “amplified” in the foreign exchange market. Because she looks at the Swiss franc is still “highly” rated. The expansionary monetary policy to stabilize the economy and price development in Switzerland, it was said to the grounds.
Waiting for BoE and US economic data
In the further course of trading, the British Central Bank will publish its monetary policy decisions. It is expected that the Bank of England (BoE) will raise your upper limit for bond purchases to support the economy.
In addition, in the further course of a day in the U.S. will be published important economic data. The initial applications are in the afternoon on unemployment assistance and economic early indicators on the calendar.
Of the recent rise in risk appetite, the Euro has not benefited in the past few days. “This can be justified with the least-friendly U.S. data, eliminating fears of a prolonged recession in the United States have declined,” write the analysts of Landesbank Hessen-Thüringen (Helaba).
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FRANKFURT (awp international)
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