During today’s session, eurocross fell against the US currency to as low as $1,003, the worst change since December 2002.
Euskaraz irakurri: Euroa dolarrarekiko parekotasunera hurbiltzen ari da atzeraldiaren beldur gero eta handiagoaren aurrean
The price of the euro against the dollar continues to weaken this Tuesday, moving closer and closer to the “greenback”, something that hasn’t happened since 2002, amid growing fears that the eurozone will be plunged into a recession that will be swept along. by the consequences of the war in Ukraine.
In today’s session, the euro’s cross with the US currency fell to as low as $1,003, the worst change since December 2002, 0.3% below the closing price of the previous session.
So far this year, the euro has depreciated about 12% against the dollar amid growing fears that the eurozone will plunge into recession due to the impact of the war in Ukraine on prices and markets, as well as if as a result of the advance with which the US Federal Reserve (Fed) started to tighten its monetary policy compared to the European Central Bank (ECB).
While the ECB has announced it will implement its first rate hike since 2011, rising 25 basis points next week, the Fed began normalizing its monetary policy last March, rising 25 basis points. was followed by increases of 50 and 75 basis points respectively in the next two meetings.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
