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 worth only $1.0262 in the afternoon. 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. Unless the European Central Bank (ECB) succeeds in fighting inflation without stalling the economy and at the same time preventing an excessive increase in financing costs for heavily indebted euro countries.
However, this development is relative. The euro has recently appreciated against many other currencies. However, the dollar is still stronger.
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