Euro stabilizes after recent losses

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Euro bills

In the morning, the euro was trading at $ 1,1127.


(Photo: AP)

FrankfurtThe euro has stabilized on Friday for the time being. On the previous day, the common currency had hardly changed after it had fallen significantly in the first half of the week. In the morning, the euro was trading at $ 1,1127, about the same as the previous day.

The European Central Bank (ECB) had last set the reference rate on Thursday afternoon at $ 1,1134 (Wednesday: $ 1,1156). According to market observers, the euro will be burdened by the political developments in Italy. Matteo Salvini, leader of the right-wing Lega and Deputy Prime Minister, has threatened to put an end to the governing coalition, according to the Bloomberg news agency.

If the co-governing five-star movement does not support its tax plans, the government in Rome may be finished in three months. Over the course of the day, economic data should become more prominent and provide fresh impetus to the foreign exchange market. The program includes data on price developments in Germany, the largest economy in the eurozone, and in the USA.

More: Italy's Deputy Prime Minister announces a new tax reform – and wants to cost something.

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