At 6:00 PM Lisbon time, the euro was trading at $1.1528, compared to $1.1524 on Friday.
The euro rose against the yen but depreciated against the pound. The European Central Bank (ECB) set the euro’s reference exchange rate at $1.1514. The euro traded at its lowest level in three months but fluctuated during today’s session.
Federal Reserve Chair Jerome Powell stated last week that a rate cut in December is not guaranteed, which strengthened the dollar. The Fed moderately reduced interest rates last week, to a range between 3.75% and 4%.
Meanwhile, the ECB maintained its key interest rate at 2%, with President Christine Lagarde indicating it would not be reduced in December.
