Euro and dollar have reached parity
- Vladimír Dohnal
- Jul 13, 2022
- 1 min read
The euro and the dollar have reached parity for the first time in 20 years on Tuesday, signaling the market's assumption that the European economy is heading for a deep recession as a result of Russia's invasion of Ukraine. Just before the invasion the euro was worth $1.13, and it peaked at $1.60 in 2008. Markets say the European Central Bank’s response to rising inflation has been too cautious. Weak euro will heighten inflation pressures.
(trend.sk)
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