Increased American dollartoday, Thursday, after data showed the world’s largest economy grew faster than expected in the fourth quarter, indicating the Federal Reserve will be in no rush to cut interest rates amid a generally stable economic backdrop.
According to Reuters, the index rose Dollar The US dollar, a measure of the value of the US currency against six major currencies, rose 0.1% in the latest reading to $103.37.
On the other hand, the euro depreciated against the dollar, following conflicting statements from European Central Bank President Christine Lagarde.
The European Central Bank kept its benchmark interest rate at a record 4% as it pointed to lower inflation in line with its expectations.
The Frankfurt-based bank’s board of directors maintained the deposit rate for the third consecutive meeting, reiterating its determination to keep funding costs at “sufficiently restrictive levels for as long as necessary”.
“The general view at the board table was that it was too early to discuss interest rate cuts,” ECB President Christine Lagarde said at the central bank’s news conference on Thursday afternoon.
2024-01-25 15:27:00
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