The euro moved little on Thursday. In the afternoon, the common currency was trading at $ 1.1304, around the same rate as the previous evening. A downward movement of the euro on the previous day, after the publication of the minutes of the latest interest rate meeting of the US Federal Reserve, has not continued. According to the US Federal Reserve, economic and inflation developments speak in favor of a faster exit from the loose monetary policy. The transcript, published on Wednesday, shows that Fed members rate the inflation trend as higher and more stubborn than previously assumed. On the market, this was seen as an indication of a more rapid exit from the ultra-loose monetary policy, which supported the dollar and, in return, temporarily put pressure on the euro. The prospect of a tighter monetary policy made the “anti-inflation currency” gold less attractive. The precious metal was down 1.2 percent to $ 1,788 a troy ounce (31.1 grams). Investors also pulled out of riskier assets like cryptocurrencies. Bitcoin peaked on Thursday by 2.7 percent to $ 42,413. Ethereum was down by more than four percent, and at $ 3403, the cyber currency was cheaper than it had been for almost three months.
The prices of American and European government bonds came under pressure on the bond market. In return, the yield on ten-year US bonds climbed to 1.753 dollars, the highest level in more than nine months. The return of the German counterparts rose to minus 0.031 percent, marking the highest value in two and a half years.
On the other hand, the oil price went up. The US variety WTI was quoted 2.8 percent higher at $ 80.02 a barrel. Commerzbank analyst Barbara Lambrecht cited the unrest in Kazakhstan as the reason.