Dusseldorf It has only been five months since the euro fell below par with the US dollar and hit a 20-year low. The common European currency is now a long way from this: the changed market situation and adjusted expectations are driving more and more investors into the euro.
The euro exchange rate was up to 1.1076 dollars on Friday, reaching its highest level since March 2022. The currency is thus strengthening the positive trend of the past few weeks. A number of factors suggest that the currency could break through $1.11 soon.
The main driver is the prospect of a less restrictive monetary policy in the USA and the associated effect on the dollar. Higher interest rates tend to strengthen the value of a currency because it becomes more attractive for foreign investors to invest in the respective currency area.
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