Euro rate rises above $ 1.08 again

The euro exchange rate climbed again above $ 1.08 in US business on Thursday. Most recently, the common currency cost $ 1.0824. The euro had previously dropped to $ 1.076. The European Central Bank (ECB) had set the reference rate at $ 1.0783 (Wednesday: 1.0807). The dollar thus cost 0.9274 (0.9253) euros.

The exchange rate movement between the euro and the dollar, the world's most traded currency pair, was generally narrow on Thursday. Extremely weak economic data from the eurozone could do little to the single currency, as it only confirmed the already feared slump due to the corona pandemic. Industrial production in Germany and France slumped in March.

The dollar was also not impressed by the renewed surge in initial jobless claims in the United States. The growth was also expected given the Corona crisis. The monthly labor market report is on the calendar on Friday.