This week, the euro reached parity against the U.S. dollar for the first time in 20 years, while the USD index jumped to a record high.
Last week, Germanyits first trade deficit in goods in three decades. Analysts are finding it hard to envision that things in the eurozone could improve in the near future. “Given the nature of Germany’s exports which are commodity-price sensitive, it remains hard to imagine that the trade balance could improve significantly from here in the next few months given the expected slowdown in the eurozone economy,” strategists from Saxo Bank said on July 12.
The euro has met parity with the U.S. dollar in the past, as the fiat currency matched the dollar’s exchange rate back in 2002, the same year euro-based notes and coins were issued. At the time of writing, the EUR’s exchange rate against the USD is $0.9998. While the euro slumped this week, the U.S. dollar index
$108.56, a value not seen since October 2002. Despite the record inflation in the U.S., America’s greenback has been extremely robust compared to most of the fiat currencies circulating across the global economy today.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Advance Showing Signs of Exhaustion: USD/SGD, USD/PHP, USD/IDR, USD/THBThe US Dollar extended its push against ASEAN currencies. However, some of them are starting to show signs of pushback. What is the road ahead for USD/SGD, USD/PHP, USD/IDR and USD/THB? Get your market update from ddubrovskyFX here:
Read more »
NZD/USD Price Analysis: Correction drags bulls below 20- and 50-EMAs, 0.6100 a critical supportNZD/USD Price Analysis: Correction drags bulls below 20- and 50-EMAs, 0.6100 a critical support – by Sagar_Dua24 NZDUSD Technical Analysis SupportResistance Reversal RBNZ
Read more »
Euro now worth same as U.S. dollar, hits fresh 20-year lowThe move in the currency markets is due to concerns that Russia could cut off gas supplies to Europe amid the ongoing war.
Read more »
The euro and the US dollar are at parity for the first time in 20 yearsFor the first time in 20 years, the exchange rate between the euro and the US dollar has reached parity -- meaning the two currencies are worth the same.
Read more »
Attention Coffee Drinkers — The Latest Ember Mug Model Is Already on Sale for 20% OffRemember when everyone lost it when the new Ember mug came out? Well now's the time to finally treat yourself to it now that it's majorly discounted.
Read more »
20 Weeks of War in Ukraine | The Takeaway | WNYC StudiosToday marks the 20th week of Russia’s war on Ukraine. We’ll check in on some recent developments with a reporter who’s been on the front lines.
Read more »