Euro falls to lowest level against dollar since 2002

Dusseldorf The fall of the euro against the US dollar continues. The European common currency fell temporarily to its lowest level since 2002 on Tuesday and is approaching parity. One euro is only worth 1.0256 dollars in the evening. A year ago, the price was still above the $1.20 level. This means that parity with the world’s leading currency is only a matter of time, warned Neil Wilson, chief analyst at online broker Markets.com

However, this development is relative. The euro has recently appreciated against many other currencies. However, the dollar is still stronger.

For example, the dollar index, which reflects the exchange rate against other major currencies, has gained more than ten percent since the beginning of the year. On Tuesday it was as high as it was almost 20 years ago.