Euro at highest against dollar since June 30 - Breaking The News
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Euro at highest against dollar since June 30

Markets
Christian Baha / DJ

1 min read

The euro reached a five-month high compared to the dollar on Monday, trading above $1.049. The Eurozone currency fell as low as $0.95 in late October amid rising inflation and interest rate hikes.

Earlier today, Klaus Knot of the European Central Bank tempered fears of recession, stating that while growth in the euro area will be "weak, maybe negative" it is needed to curb inflation.

The euro rose 0.79% against the dollar to sell for 1.04919 at 12:04 pm CET.

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