EUR rises: ECB sets reference rate at USD 1.0919 - analysis by financial experts

EUR rises: ECB sets reference rate at USD 1.0919 - analysis by financial experts

According to a report by www.boerse.de, the euro rose on Thursday. The European Central Bank set the reference rate at 1.0919 US dollars, while the dollar cost 0.9158 euros. For other important currencies, the ECB set the reference rates for one euro at 0.85955 British pounds, 154.80 Japanese yen and 0.9490 Swiss francs.

Looking at the development of the Euro-Dollar exchange rate in the foreign exchange market, a stronger Euro is expected to make Eurozone exports more expensive, which could be negative for export-oriented companies in the region. On the other hand, consumers benefit from a stronger currency as imports become cheaper, which could have a positive impact on purchasing power.

For investors invested in European stocks, a stronger euro could pose a challenge as the profits of export-oriented companies could be hit. At the same time, however, this could also provide an opportunity for investors to invest in stocks that benefit from a stronger currency, such as importing companies or companies with significant operations outside the euro area.

Overall, the impact of a stronger euro on the market could be mixed. A rise in the euro could weigh on the financial sector and export-oriented companies, while consumers and importing companies could benefit. It therefore remains to be seen how the situation will develop and what measures investors will take to adapt to the possible effects.