The euro falls to $1.0816 this Friday

He euro it fell this Friday to 1.0816 dollars after the president of the Bundesbank, Joachim Nagel, insisted that the European Central Bank (ECB) would not automatically implement further interest rate cuts after the first one.

The single currency it was changed to 1.0816 dollars as of 16:00 GMT, compared to $1.0861 a day earlier, and has accumulated a 0.65% decline in the past week.

On its part, ECB set the rate at $1.0823.

During the day, President of the Bundesbank, Joachim Nagelhe said he believed the ECB would make its first rate cut before the summer, with June more likely than April.

However, Nagel assured that, after this first cut outthe rate reduction will not be automatic, they will have to pay attention to the data and be careful.

This week United States Federal Reserve (Fed) kept interest rates on hold for the fifth consecutive meeting, but opened the door to three rate cuts between now and the end of the year.

IN Germanythis Friday it was learned that business confidence improved significantly in March, rising for the second month in a row, with less pessimistic expectations in a context where the country’s economy is starting to show signs of recovery.

As reported by the Institute for Economic Research (Ifo), the business confidence index for Germany as a whole rose in March to 87.8 points, compared to 85.7 points in February.

The currency The only one changed today in the fluctuation band between 1.0810 and 1.0867 dollars.