Foreign Exchange: Euro exchange rate holds above $ 1.09 in US trade | 04.05.20

NEW YORK (dpa-AFX) – The euro exchange rate defended the US $ 1.09 mark on Monday. After a short drop, the common currency recently stood at $ 1.0904. In Asian trade, however, the price had been significantly higher. The European Central Bank (ECB) set the reference rate at $ 1.0942 (Thursday: 1.0876). The dollar thus cost 0.9139 (0.9195) euros.

At the start of the week, the euro was particularly burdened by the US dollar, which rose against many currencies. Market participants cited rising tensions between the USA and China as the reason. It is about US allegations of blame for China over the corona pandemic. There are fears that the trade dispute between the two economic powers will flare up again. The dollar as a global reserve currency was therefore in greater demand

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