Foreign exchange: Euro moves down $ 1.23 – sideways to franc

The euro fell slightly against the US dollar on Wednesday. In morning trading, the common currency is moving down $ 1.23. Currently, the euro is trading at $ 1.2318. By contrast, against the franc, the euro remains at 1.1550 CHF in its range between 1.15 and 1.16. The US dollar shows a strong performance of CHF 0.9377 against the Swiss franc.

Disappointing economic data from the eurozone weighed slightly in the morning. In February, the mood of purchasing managers in leading economies in the currency area had deteriorated more than expected. Expert Ulrich Wortberg from Landesbank Hessen-Thüringen (Helaba) explained the decline in the Markit sentiment indicator with the recent rise in market interest rates and a still comparatively strong euro.

In the further course of the day, monetary policy in the USA is becoming more in the focus of investors. In the evening, the US Federal Reserve will publish the minutes of the recent interest rate session. The market is expected to show signs of increasing interest rates this year.

So far, the central bankers had promised three interest rate steps. But the market has recently speculated that there could be four rate hikes in the US.