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U.S. dollars is rising due to weak stock markets

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FRANKFURT (AFX). The Euro has expanded on Friday in an environment of weak U.S. stock exchanges his losses. The European single currency was trading in the afternoon with 1.4370 U.S. dollars. In early trading, the euro had been quoted at $ 1.4429. The European Central Bank (ECB) had fixed the reference rate at 1.4374 (Friday: 1.4486) dollars. The dollar cost to 0.6957 (0.6903) Euro.

"Together with the weak U.S. stock markets and rising risk aversion, the euro has lost more during the day," said foreign exchange experts Özgür Atasever of Metzler Bank. Even short-term data were disappointed from the U.S.. That had been collected by the University of Michigan consumer sentiment for January fell below expectations, had brightened not as strong as hoped.

The dynamics of the stock market has slowed according to estimates by Atasever and thus favors a stronger dollar. This is bought by investors like to downturns in the stock markets. In addition to the equity markets are likely, according Atasever but also give the future economic data from the U.S. a decisive impetus for the euro-dollar exchange rate.

To other major currencies, the ECB had the reference rates for the euro to 0.88105 (0.89050) British Pound , 130.76 (132.88) Japanese Yen and 1.4756 (1.4804) Swiss Franc determined. The price of an ounce of gold was fixed in London on the afternoon of 1 128.00 (1 138.25) dollars. The kilo bars cost 25 430.50 (25 326.80) Euros.