Price of the euro rises to 1.08 dollars after publishing inflation figures in the United States

The euro appreciated today to exceed $1.08, after the publication of the US inflation figureswhich slowed in December for the sixth consecutive month.

The euro was exchanged around 16:00 GMT at $1.08, against 1.0771 dollars in the last hours of the European negotiation of the foreign exchange market of the previous day.

The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0772.

Inflation fell in the US in December to 6.5% year-to-year, six tenths less than in November. Core inflation, which excludes energy and food prices because they are more volatile, increased by 5.7% in December (6% in November).

For this reason, it is possible that the Federal Reserve (Fed) will consider at its next meeting a smaller rise in interest rates and that is why the dollar depreciated.

The Fed has said that their interest rates will go as high as 5-5.25%, now they are 4.25-4.5%. Subsequently, the dollar recovered some positions due to risk aversion.

The single currency was exchanged in a fluctuation band between $1.0739 and $1.0836.