By 6 pm (Lisbon time), the euro was trading at 1.0817 dollars, when on Monday, around the same time, it was trading at 1.0793.

The euro also rose against the pound, but fell against the yen.

The European Central Bank (ECB) set the euro’s reference exchange rate at 1.0796 dollars.

In today’s session, the euro fluctuated between 1.0777 and 1.0825 dollars.

The chairman of the US Federal Reserve pointed out that inflation has been higher than expected, arguing that it is necessary to allow the restrictive policy to take effect.

"The first quarter in the United States was marked by a lack of progress on inflation," said the chairman of the US Federal Reserve (Fed), Jerome Powell, quoted by Agence France Presse (AFP).

Despite noting that the Fed did not expect the decline in inflation to be an easy task, Powell admitted that the "numbers were higher" than expected.

Thus, he stressed that it is necessary to be patient and "let the restrictive policy take effect".

The American central bank has kept rates at their highest level since the beginning of the century -- between 5.25% and 5.50% -- with the aim of bringing inflation to the 2% barrier.

Powell also pointed out that, despite this scenario, rates are unlikely to rise as they are already at "restrictive" levels.

"I don't think that's likely. It's more likely that we're at a level where we're holding rates where they are," he said.

Currencies...............Today..............Monday

Euro/dollar............1,0817.................1,0793

Euro/pound............0,85949...............0,85925

Euro/yen.............169,24.................168,60

Dollar/yen............156,46.................156,21

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