Euro benefits from development in Brexit drama

The European common currency rises slightly on Monday. The financial markets hardly react to new economic data from the Eurozone.

The euro rose slightly on Monday. In the afternoon, the common European currency cost $ 1.1150, slightly more than in the morning. The European Central Bank (ECB) set the reference price at $ 1.1146 (Friday: 1.1174). The dollar thus cost 0.8972 (0.8949) euros.

This means that the euro was still significantly below its level at the end of the week. On Friday, he benefited from the conservative election victory in the UK and rose to a four-month high against the US dollar. An orderly Brexit is now within reach. However, the euro was unable to keep profits.

The financial markets hardly reacted to several fresh economic data, above all the purchasing manager index surveyed by the research company Markit, a company survey. Corporate sentiment stagnated at a low level in December, and the situation deteriorated further in the ailing industry. Experts had expected a slight brightening.

For other major currencies, the ECB set the reference rates for one euro at £ 0.83415 (0.83508) pounds sterling, 121.97 (122.43) Japanese yen and 1.0953 (1.0982) Swiss francs. The troy ounce of gold (31.1 grams) was traded in London in the afternoon at $ 1478. That’s about two dollars more than on Friday.