The euro has remained under pressure in US trade. After reaching a three-year high of $ 1.2323 in Asian trade, the European currency temporarily fell below $ 1.22 in European business Wednesday. Last one euro cost 1.2245 dollars. The European Central Bank (ECB) had set the reference rate at 1.2203 (Tuesday: 1.2230) dollars. The dollar had cost 0.8195 (0.8177) euros.
Market observers justified the price reducer with recent statements from the ranks of the ECB. During the course of the day, several central bankers had tended to be worried about the recent high of the euro. ECB Vice-President Vitor Constancio told the Italian newspaper “La Repubblica”, “Sudden price movements are worrying me unless they reflect a change in the fundamental situation.” ECB Governing Council member Ewald Nowotny said that the rise in the value of the euro was “not helpful”. France’s Federal Reserve Chairman and Governing Council member Francois Villeroy de Galhau became clearer: “The recent development of the exchange rate is a source of uncertainty, which is due to their possible dampening effects on import prices.” In Asian trading, the price of the euro temporarily rose to its highest level since the end of 2014. In part, this increase was due to a consistently weaker dollar. In part, speculation on a less accommodative monetary policy by the ECB was also decisive.