Lisboa, 29 April 2024 (Lusa) – The euro recovered today to the level of 1.07 dollars, following the publication of data pointing to a stabilization of inflation in April in Germany.
At 17:55 (Lisbon time), the euro was still at 1.0726 dollars, when on Friday it was trading at 1.0696 dollars.
The inflation rate in Germany remained stable in April (2.2%), reinforcing the prospect of a decline in interest rates in the euro zone, according to provisional figures released today.
The underlying inflation rate, which excludes the most volatile food and energy prices, stood at 3%, a decline of 0.3 percentage points compared to March, according to the statistics office Destatis.
The US dollar surpassed the 160 yen barrier today, for the first time since 1990, but the Japanese currency would recover, with one dollar being worth around 155 yen by the end of the afternoon.
The yen has been falling sharply against the US dollar, among other currencies, largely due to the interest rate differential between the two countries.
The trend has accelerated in recent weeks because the US Federal Reserve (Fed), the central bank, is not expected to start reducing interest rates soon.
The Fed begins a two-day monetary policy meeting on Tuesday and announces decisions on Wednesday.
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