What’s more, the greenback benefits from its status as a haven, meaning that as the war drags on and the fallout gets worse, the euro keeps sliding. Cost efficiency thanks to a fee-based operating model designed to minimise market impact. That makes yields on US Treasury bonds higher than those on Europe’s debt, driving investors to the dollar and away from the euro. At the same time, the US Federal Reserve is raising interest rates much faster than the 19-nation euro area.
Enter: GIt’s the first time the euro has sunk to that level since 2002, in the early years of the currency’s existence.Įurope suffers most from the war, which has sparked an energy crisis and could lead to potentially a long and deep recession. Additionally, with Bloomberg's ability to capture real. Now a combination of Europe’s front-line exposure to Russia’s war in Ukraine and the European Central Bank’s tardiness in raising interest rates have driven it to parity, or a 1:1 ratio with the dollar. Users can view real-time rates for dozens of currencies, along with basis curves for most pairs, and rate information for a given currency. As the US economy went into meltdown during the 2008 global financial crisis, one euro was worth about 1.6 times the US dollar.
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