The euro recovers positions due to some optimism that there will be no war

©Reuters. The euro recovers positions due to some optimism that there will be no war

Frankfurt (Germany), Feb 22 (.).- The euro recovered positions against the dollar on Tuesday due to certain optimism in the markets that there will not be a war in Europe.

The euro was trading at $1.1333 by 4pm GMT, versus $1.1340 in late European forex trading the previous day.

The European Central Bank (ECB) set the reference exchange rate for the euro at 1.1342 dollars.

Ukraine’s President Volodymyr Zelensky has said he does not expect “a powerful war” against the country, nor a broad escalation.

The European Union (EU) has already announced economic sanctions against Russia.

Business confidence improved in February in Germany, for the second consecutive month, despite the crisis in Ukraine, which is a risk factor for the German economy.

The single currency was traded in a fluctuation band between 1.1288 and 1.1367.

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