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Currency: Euro close to recent low, franc stabilizing

25/02/2022
Categories: Economy/Forex

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The euro fell against the dollar on Friday, remaining close to its lowest since mid-2020. That same day, the franc stabilized against the euro, the main currency for Swiss trade.

                       

The euro yielded 0.13% to 1.1177 dollars, close to its lowest for more than a year and a half reached the day before at 1.1106 dollars. While the US Federal Reserve (Fed) currently has no reason to amend its monetary tightening program to fight inflation, the European Central Bank (ECB) could temporize to avoid suffocating an economy already affected by the conflict.

Due to its role as a safe haven amid Russia's invasion of Ukraine, the Swiss currency was trading at 1.0352 francs to the euro, after the currency pair hit a new higher the previous day. low at 1.0273 EUR/CHF. Against the dollar, the franc slackened on the other hand and traded at 0.9261 USD/CHF. The day before, the currency pair was still trading at 0.9176 USD/CHF.

The Russian ruble, meanwhile, stabilized (+0.09% to 84.19 rubles) but remained down more than 10% since the start of the year. In this uncertain context, gold appreciated (+0.27% to 1,909 dollars) without getting too close to the peak in nearly a year and a half, briefly reached the day before at 1,974.35 dollars.

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