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The euro to the highest since march against the dollar in a market that is optimistic

The euro hit on Wednesday, the highest level since two and a half months against the dollar, driven by the optimism that dominates the market. read also : The

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The euro to the highest since march against the dollar in a market that is optimistic

The euro hit on Wednesday, the highest level since two and a half months against the dollar, driven by the optimism that dominates the market.

read also : The Europeans at the foot of the wall on the future of the monetary union

Around 19: 00 GMT (20: 00 in Paris), the euro was 0,63% against the greenback, to 1,1240 dollar, its highest since mid-march. "The prospect of a recovery more robust in Europe, with a Covid-19 under control and greater economic support in the market, has helped the euro to climb higher," said Derek Halpenny, an analyst for MUFG. Italy has reopened its borders to tourists and the Italians are allowed to move from one area to the other, while in France, the terraces of the cafés have reopened on Tuesday. The greenback is generally regarded as a safe haven, it tends to rise in times of uncertainty, and to depreciate when optimism dominates the markets. "The stimulus funds of the european Union and the prospect of an increase in the asset buying program of the european central Bank" on Thursday, also benefit from the single currency, said Derek Halpenny.

Inflate the emergency Program of the ECB

After a round of extraordinary measures in march, while Europe is barricadait to stem the health crisis, the institute had shown "ready" to do more, at its April meeting, the face of the crisis "unprecedented in time of peace". The time has come to act again, say analysts, for whom the most obvious way is to inflate the emergency Program of the ECB (PEPP) in the face of the pandemic, providing for already 750 billion euros of debt buybacks by the end of the year.

The pound sterling, which is considered a currency risk, in particular because of the painful process of Brexit, was moving also against the dollar. She has reached during the session, the 1,2615 dollar, the highest in a month.

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