Frankfurt The euro exchange rate fell somewhat on Friday. The European single currency was trading at $ 1.0767 in the morning. It was a little lower than at night. The European Central Bank (ECB) set the reference rate at $ 1.0772 on Thursday.
The results of the European Union summit on the Corona crisis were in line with expectations. The summit approved a previously agreed 500 billion aid package and the establishment of a reconstruction fund on Thursday, through which another 1,000 billion euros or more could be distributed. However, details remain controversial.
According to Commerzbank foreign exchange expert Ulrich Leuchtmann, the EU summit damaged the euro. The results are “Wischiwaschi”. Again, the ECB had to play the fire brigade to solve the problems in the eurozone.
In the further course of trade, the Ifo business climate for Germany is on the calendar. The important economic indicator is expected to decline sharply again in April. Above all, the assessment of the current situation is likely to give way in view of plant and business closings.
More: The controversial ideas about the details of the reconstruction bond.