On Friday morning around 10:00 a.m. (ET), the euro plunged to a low of $0.9733 against the U.S. dollar. Economics Finance Inflation
Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a 'Doom Loop'
The euro lost more than 1% against the greenback on Friday and many other fiat currencies like the JPY, GBP, AUD, and CAD are also down against the U.S. dollar. Screenshot taken at 10:25 a.m. on September 23, 2022. “The only place to hide is in US dollar cash,” the Citi strategists claim. A “deep recession” will drop inflation the bank’s financial strategists add. Win Thin, the lead currency strategy analyst at Brown Brothers Harriman in New York says the macroeconomic backdrop seems to favor the dollar. “The repricing of Fed tightening risks is likely to keep the dollar bid across the board in the near term,” the Brown Brothers Harriman executive said.
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