The euro continued to weaken on Thursday. In the morning, the common currency cost $ 1.0503 and thus less than five years ago. The European Central Bank (ECB) set the reference rate at $1.0583 on Wednesday afternoon.
The Japanese yen has been under even more pressure than the euro for a long time. As of Thursday morning, almost 130 yen had to be paid for one US dollar – more than in twenty years. Like the euro, the yen is being weighed down by expectations of significant monetary tightening in the US. In Japan, there is also the extremely loose orientation of the central bank there, which, even after its most recent interest rate meeting on Thursday night, shows no signs of future tightening.
In terms of economic data, market participants will be looking at inflation data from Germany on Thursday. Inflation is likely to have remained very high in April as well. Growth data for the first quarter is expected from the USA, among other things.