Market: the pound sterling and the euro in retreat against the dollar


© Reuters. Market: the pound sterling and the euro in retreat against the dollar

Tuesday afternoon on the foreign exchange market, the european single currency strengthened to its us counterpart, 0.16%, 1,1880 dollar. At the same time, the book is packed 0.19% against the greenback, 1,3294 dollar.

La Banque Postale (LBP) AM reacts with weighting to the latest european statistics, mostly positive : ‘The confidence numbers in Europe, the PMI, the survey of Eurostat and other Ifo (Germany, editor’s note) are (…) to stratospheric levels and hardly sustainable.’ In short, ‘the standardization of the confidence index could lead the markets to question the sustainability of growth’, say the specialists.

From the political point of view, the difficulty of Germany to form a coalition government worries much since the FDP, anti-european party, seems to be out of the race. On the other hand, the difficult negotiations on the Brexit penalize always the currency of the United Kingdom.

In the meantime, this afternoon, the operators guetteront in particular, in the United States, the hearing by the Senate of Jerome Powell, the probable future president of the federal Reserve.

EG


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