The exchange rate of the euro to the US dollar is approaching the parity

According to data released by the Frankfurt Exchange on the 11th, in the European foreign exchange trading market, the euro exchange rate to the US dollar once fell to 1 euro exchange to $ 1.0034, the lowest level since December 2002.01:06 The euro fell to 20 years on the 11th, and the exchange rate of the euro to the US dollar was close to the parity, mainly because the market was concerned that the energy crisis would cause Europe to fall into decline.Essence

The United States Cable Television News Network reported on the same day that since this year, the exchange rate of the euro to the US dollar has fallen by nearly 15%.Analysts believe that a series of radical interest rate hikes, including the central banks, including the Federal Reserve, and the slowdown in economic growth, will continue to put pressure on the euro, while promoting investors to the US dollar to avoid risks.

There are also analysis that if Europe and the United States fall into deeper recession in the third quarter and the Fed is still raising interest rates, then the euro exchange rate to the US dollar is in the range of 0.95 to 0.97 US dollars.

Source: CCTV News Client

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