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Euro Slightly Up Despite Risk Aversion

Europa empieza a girar a la derecha, ¿se cansa el viejo continente del progresismo?

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On Thursday, the Euro rose slightly despite continued risk aversion and rising yields on U.S. Treasury debt.

The euro was trading at around 3 p.m. GMT at $0.9820, compared to $0.9793 in late European forex trading the previous day.

The European Central Bank (ECB) set the euro’s reference exchange rate at 0.9811 dollars.

The yield on two-year U.S. Treasury debt rose to over 4.6% and the yield on ten-year debt remained at 4.1%, supporting the greenback.

The increase in the spread between the yields of both bonds shows concern about the economy’s performance and the fear of recession.

The euro also benefited from political turbulence in the UK.

The British pound rose after British PM Liz Truss announced she will resign as soon as the Conservative Party chooses her successor.

The euro was exchanged in a fluctuation band between 0.9754 and 0.9835 dollars.

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