Foreign exchange: US economy sends the euro below $1.14 for the first time since the end of July

(Il Sole 24 Ore Radiocor) - A crushing blow for the euro, which has fallen back below 1.14 for the first time since the end of July and, towards the close of trading, stood at 1.1395 against the US dollar. The dollar’s rise was driven by US economic figures, which proved more ‘resilient’ than expected. The US manufacturing activity index, in fact, rose to 57 points in September – its highest level in over four years. This has prompted investors to return to the dollar, as these macroeconomic figures give the Fed greater scope to raise interest rates further. Added to this is the surge in crude oil prices, which, by remaining at around $100 a barrel, is keeping inflationary pressures high.

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