03.03.2025, 22:15
The euro reacted to Brussels' plans to rearm
Source: OREANDA-NEWS
OREANDA-NEWS The euro reacted to the information about the rearmament of Europe. This was reported by the French newspaper Le Figaro.
According to him, the ambitions demonstrated by European leaders to increase defense spending led to a sharp increase in the euro. The exchange rate of this currency against the dollar increased by 1.02 percent. At the same time, the euro rose by only 0.12 percent against the pound, which is attributed to talks about an increase in military spending in the UK.
Swissquote Bank analysts believe that Europe's willingness to support Ukraine will lead to increased military spending, which should boost the economy in the short term. In addition, the European Central Bank will have the opportunity to slow down aggressive rate cuts.
Earlier it was reported that shares of the largest European defense companies in Europe jumped in price by more than ten percent amid Brussels' plans to sharply increase military spending.
According to him, the ambitions demonstrated by European leaders to increase defense spending led to a sharp increase in the euro. The exchange rate of this currency against the dollar increased by 1.02 percent. At the same time, the euro rose by only 0.12 percent against the pound, which is attributed to talks about an increase in military spending in the UK.
Swissquote Bank analysts believe that Europe's willingness to support Ukraine will lead to increased military spending, which should boost the economy in the short term. In addition, the European Central Bank will have the opportunity to slow down aggressive rate cuts.
Earlier it was reported that shares of the largest European defense companies in Europe jumped in price by more than ten percent amid Brussels' plans to sharply increase military spending.
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