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May 18 - Euro could slide below dollar parity for first time in 20 years



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 2 months ago '20        #1
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May 18 - Euro could slide below dollar parity for first time in 20 years
 

 
The euro is on the verge of U.S. dollar parity for the first time in two decades.

Europe’s common currency has already slumped to a five-year low near $1.03, buckling from a rush into the greenback as a haven from market turmoil and on the war in Ukraine. That’s led the likes of HSBC Holdings Plc and RBC Capital Markets to predict the two will hit parity in 2022.

Hedge funds are already betting on it. They’ve piled on $7 billion in notional value into options wagers on parity in the past month alone, making it the most popular trade among those looking for a further drop in the common currency.

“The euro itself is not an attractive currency at the moment,” said Francesco Pesole, a currency strategist at ING Groep NV. While the Dutch bank is keeping its official euro forecast for the next six months at $1.05, Pesole admits the dollar’s strength and market volatility means parity is likely.

To a large extent the euro’s plight is a function of dollar strength, which has been supercharged as the Federal Reserve presses on with bigger interest-rate hikes than its peers. A fresh bout of global risk aversion that has taken the wind out of equity and credit markets is only adding momentum to the move into haven currencies.

There’s also a darkening outlook for the European economy. A continuing standoff with Moscow over the supply of natural gas to the continent has raised the prospect of a pronounced slowdown. The International Monetary Fund has slashed its 2022 growth forecast for the currency bloc to 2.8%.

That’s left the European Central Bank walking a tightrope. It has to balance the need for tighter policy to tame record inflation against the prospect of the economic damage that could cause -- especially in some of the region’s most indebted member states such as Italy. While officials may raise rates above zero before the end of the year, there are doubts over further hikes beyond that.
visit this link https://www.bloomberg.com .. me-in-20-years
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 2 months ago '13        #2
boobalo1  topics gone triple plat - Number 1 spot x1
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The mighty mighty $dollar bill.. Russia and Chinas plan to wean the world into something new is backfiring.
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 2 months ago '18        #3
DUCEDUCE  topics gone triple plat - Number 1 spot x2
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The sad sh*t if we werent so fu*king divided this country could literally be a utopia.
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 2 months ago '07        #4
iswerve  topics gone triple plat - Number 1 spot x1
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 DUCEDUCE said
The sad sh*t if we werent so fu*king divided this country could literally be a utopia.
we legit hate ourselves, never seen a country so divided, and never look at the big picture.....we deserve whatever tf we get....cuz idiots too fkn stupid
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 2 months ago '18        #5
Ryo857 
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 boobalo1 said
The mighty mighty $dollar bill.. Russia and Chinas plan to wean the world into something new is backfiring.
That part!
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 2 months ago '20        #6
Xiox  topics gone triple plat - Number 1 spot x1
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Isn't that what Washington wants

 2 months ago '06        #7
authenic 
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 DUCEDUCE said
The sad sh*t if we werent so fu*king divided this country could literally be a utopia.
Hope u aint talking about that that partly cloudly soggy a*s place called Seattle...I mean the UK

 1 month ago '17        #8
Jdog168  topics gone triple plat - Number 1 spot x8
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Might be time to take that trip to Europe
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 1 month ago '08        #9
FlyboyCaz 
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 Jdog168 said
Might be time to take that trip to Europe
Word!
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 1 month ago '08        #10
el bundy 
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I'm going to Europe for my honeymoon at the end of June so this is perfect
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 1 month ago '06        #11
nightmare  topics gone triple plat - Number 1 spot x4
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 Jdog168 said
Might be time to take that trip to Europe
i was in Finland last week and that sh*t caught me off guard when i was buying sh*t and the sh*t was almost identical, because last time i went out there, my wallet was getting merked
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