The risks for the euro have increased again in the past few days.
(Photo: Reuters)
Frankfurt/Zurich When the euro was last as cheap as it is now, George W. Bush was US President, the Union parties campaigned with the CSU politician Edmund Stoiber in the federal election campaign, and the German national soccer team lost the World Cup final in Yokohama, South Korea, against Brazil . On Tuesday morning, the common currency fell to its lowest level in 20 years and was quoted at just 0.9909 euros per US dollar. The euro even fell to a record low against the Swiss franc.
Analysts are now expecting the euro to remain below the crucial $1 mark for an extended period and predict further losses. In July, the looming recession in the euro zone and the growing interest rate differential with the USA caused the euro to fall below par for the first time since 2002.
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