The euro rose above $ 1.25 on Thursday in US trading. About one hour before the Wall Street closing, the common currency rose to $ 1,2503. The European Central Bank (ECB) had previously set the reference price at 1.2493 (Wednesday: 1.2348) dollars. The dollar cost 0.8005 (0.8099) euros.
With recent gains, the euro is again approaching its three-year high, reaching $ 1.2537 in January. According to foreign exchange expert Esther Reichelt of the Commerzbank (DE: CBKG), the market increasingly speculates that the ECB will take its foot off the accelerator because of the robust upturn.
In addition, the high level of debt in the US is becoming more prominent, weighing on the dollar and giving the euro a boost. “The debt ghost is back,” commented expert Reichelt the mood in the market.