Thanks to the determination of several members of the US Federal Reserve to tighten their monetary policies, the dollar briefly rose above the threshold of one euro on Monday.
The euro fell 0.35 percent to $1.0000 after falling to $0.9994 around 08:20 GMT, while the European economy will suffer from a jump in energy prices that will limit the ECB and Bank of England’s room for maneuver. . While sterling fell 0.33% to $1.1790, a level not seen since mid-July.
In a related context, European stocks fell on Monday as the region’s main markets fell amid investors’ fears of tightening measures by policymakers at the European Central Bank.
The pan-European Stoxx 600 was down 0.2 percent by 07:20 GMT. The decline was led by chemical, auto and technology stocks, while mining stocks rose 0.4 percent, Reuters reported.
Bundesbank President Joachim Nagel told a German newspaper: “The European Central Bank should continue to raise interest rates, even if a recession in Germany is increasingly likely, with inflation remaining uncomfortably high throughout 2023.” Will remain”.
Source: Lebanon Debate
