After the inflationary process that occurred in January, the euro depreciated against the dollar, despite the fact that it also showed weakness.

In numbers, the European currency closed the month of January at 1.2023 dollars, thus showing a fall in purchasing power against the North American currency of 0.18 % compared to the previous closing.

With these results, the euro fell for the second day in a row despite the fact that the US currency also weakened.

Inflation in the euro zone accelerated in the first month of 2021 after five months of deflation. The price index stood at 0.9% in January, thanks to the rise in food and energy prices.

“The rise in inflation is good news for the European Central Bank, which will certainly maintain stimulus as the rise responds to temporary factors”, Intercam Banco analysts wrote in a report.

K. Tovar

Source: Investing

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