D.he euro is heading towards its highest level against the dollar in three years. On Wednesday it continued its recent appreciation trend, with a single unit of the common currency topping out at $ 1.2295 during the night.
In the morning the rate had come back to $ 1.2258. The five-year high is from January 2018 and stands at $ 1.2492.
The currency market continued to show widespread dollar weakness. One of the reasons for this is a generally friendly mood on the financial markets, which is causing American investors in particular to invest outside the dollar area.
The dollar index as a value indicator of the American currency against a basket of the ten most important currencies in the world is also heading towards a three-year low. With 89.87 points most recently, it is only just above its pre-Christmas low.
However, due to the end of the year, trading activity on the foreign exchange market has already become significantly thinner. In general, portfolio adjustments are made at the end of the month.
The German stock market is trending sideways with the futures market on the American stock exchange. The Dax is down slightly to 13,752 points after losing sight of Tuesday’s all-time high the day before.