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25-08-2022, 07:08 AM
Deep, lower, euro: The European common currency is now worth less than one US dollar. What are the consequences of the weak euro for consumers and the economy?
There is unrest at the headquarters of the European Central Bank (ECB). The euro falls and falls. This week it has fallen to a new 20-year low against the US dollar. Since the beginning of the year, the euro has lost a good 14 percent of its value against the dollar.
Things could get worse soon. Several currency experts and investment strategists assume that the euro will be worth less than a dollar permanently. "Because of the looming energy crisis and the associated risk of recession, the price is likely to stay below par for quite a while," warns Jürgen Molnar, capital market strategist at RoboMarkets. "But there is always the possibility that the euro will fall even more sharply against the dollar." US banks like Morgan Stanley predict that the euro will stay at $0.99 until the end of the year.
https://www.tagesschau.de/wirtschaft/eur...t-101.html
There is unrest at the headquarters of the European Central Bank (ECB). The euro falls and falls. This week it has fallen to a new 20-year low against the US dollar. Since the beginning of the year, the euro has lost a good 14 percent of its value against the dollar.
Things could get worse soon. Several currency experts and investment strategists assume that the euro will be worth less than a dollar permanently. "Because of the looming energy crisis and the associated risk of recession, the price is likely to stay below par for quite a while," warns Jürgen Molnar, capital market strategist at RoboMarkets. "But there is always the possibility that the euro will fall even more sharply against the dollar." US banks like Morgan Stanley predict that the euro will stay at $0.99 until the end of the year.
https://www.tagesschau.de/wirtschaft/eur...t-101.html
