The soaring of the euro is stopped for the time being. After reaching a three-year high of $ 1.2323 on Wednesday night, the common currency fell temporarily below $ 1.22 in the afternoon. The euro was last traded at $ 1,2237, slightly lower than the day before. The European Central Bank (ECB) set the reference rate at 1.2203 (Tuesday: 1.2230) dollars. The dollar 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 insecurity that has to be observed because of their possible dampening effects on import prices.