Why the euro is firing
Dollar to euro converter.
The euro has topped $ 1.17 today, its highest since September 2018 against the “greenback,” which is further weakened by rising coronavirus infections in the US and concerns about the economic recovery.
The euro, which at the beginning of July was paid at $ 1.12, was exchanged this morning at 1,1709 dlares, compared to the 1.1624 dollars in the last hours of the European negotiation of the foreign exchange market of the previous day, but it has come to be paid to 1.1725 dollars in the Asian negotiation.
The fall in the profitability of US Treasury debt indicates that the market discounts that the recovery of the US will be slow.
The dollar also continues to be pressured by the intensification of US and Chinese tensions, which have fueled expectations that the Federal Reserve (Fed) will apply more stimulus for longer to support the economy.