At 6:00 PM Lisbon time, the euro was trading at $1.1661, compared to $1.1660 at the same time on Tuesday.
The euro also rose against the pound but fell against the yen.
The European Central Bank (ECB) set the euro’s reference exchange rate at $1.1651.
During today’s session, the euro fluctuated between $1.1623 and $1.1673.
ECB President Christine Lagarde indicated today that the Eurozone’s economic activity is expected to weaken in the third quarter, also warning of uncertainty surrounding tariffs and their impact.
The growth of the European bloc will be affected by the adoption of tariffs and the normalization of trade flows following pre-tariff measures implemented earlier this year.
“Growth is expected to slow in the third quarter as this anticipation dissipates,” Lagarde warned while participating in the International Business Council of the World Economic Forum in Geneva, Switzerland.
The ECB leader noted that the recent trade agreement between the European Union and the United States imposes higher tariffs on Eurozone products compared to the situation before April.
In this regard, the ECB President emphasized that the trade agreement with the US establishes an average effective rate estimated between 12% and 16% for US imports of Eurozone products, which is slightly higher, though close, to the assumptions used by the ECB in its projections.
Currencies today and on Tuesday:
Euro/dollar…………..1.1661……………..1.1660
Euro/pound…………..0.86630…………….0.86429
Euro/yen……………171.54…………….171.94
Dollar/yen…………..147.12……………..147.46
