The euro recovered on Thursday after falling below par in US trading.
Recently, the single currency was priced at $1.0020. In European business, the euro fell to $0.9952. Parity is a one-to-one exchange rate for currency pairs.
The main reasons for the Euro’s current weakness are the risk of an energy crisis in Europe and the European Central Bank’s hesitant resistance against high inflation. “At the moment, almost everything seems to be speaking against the euro,” said Thomas Getzel, chief economist at VP Bank. “The Euro is losing and as a result the inflation problems are getting worse.”
New York (dpa-AFX) –
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