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Currency: The euro stable against the dollar

06/08/2021
Categories: Economy/Forex

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While the pound rises after the Bank of England, the European currency remains stable against the dollar.

The euro stabilized against the dollar on Thursday, after suffering the day before from an intervention by a more optimistic than expected Fed official, while the British pound strengthened after the outcome of the Bank of England meeting . Around 7:00 p.m. GMT, the euro lost some 0.01% to 1.1836 dollars for one euro. While the European single currency had touched 1.19 dollars on Wednesday, approaching its highest in a month against a greenback weakened by disappointing economic indicators across the Atlantic, the trend was reversed after an intervention by the vice-president of the Fed, Richard Clarida. Across the Atlantic, forex traders followed Thursday's meeting of the Bank of England (BoE), which kept its very loose monetary policy unchanged but is now considering a "slight tightening" in the next two years to counter the rise in the inflation. The British pound gained 0.30% against the dollar, at 1.3931 dollars for one pound, and 0.32% against the euro, at 84.95 pence for one euro. Bitcoin rose above 40,000 dollars, rising 2.63% to 40,798.63 dollars.

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