No result
Show results
DigitalTrend.cz
en_US English
en_US English cs_CZ Čeština sk_SK Slovenčina de_DE Deutsch es_ES Español it_IT Italiano nl_NL Nederlands ru_RU Русский vi Tiếng Việt ko_KR 한국어 ja 日本語 zh_CN 简体中文
  • Introduction
  • Cryptocurrencies
    • Cryptocurrency prices
    • Where to buy bitcoin and cryptocurrencies
  • Internet
  • Online shopping
  • Introduction
  • Cryptocurrencies
    • Cryptocurrency prices
    • Where to buy bitcoin and cryptocurrencies
  • Internet
  • Online shopping
No result
Show results
DigitalTrend.cz
No result
Show results

The euro has fallen to a 20-year low against the US dollar, parity is about to fall

RB from RB
July 6, 2022
in News
Time: 2 min
AND AND
0
Register on the largest exchange Binance and get a bonus up to $600 including automatic cashback up to 40%!

The Euro has a slow start to the second half of 2022, with the fiat currency falling to a 20-year low against the US dollar. The decline adds to fears that the global economy is in recession, and analysts believe that the risk to the parity is now only a matter of time.

Do not miss: THE BEST STOCK EXCHANGE BROKERS IN EUROPE AND THE BEST BROKER IN THE CZECH REPUBLIC IN 2022

The euro is approaching parity with the US dollar

European Central Bank (ECB) policymakers are dealing with record inflation but have been much slower than the US to raise the benchmark interest rate. On June 27-29, ECB members met at the European Central Bank's annual forum, and ECB President Christine Lagarde said: "Monetary policy is in a difficult situation."

During the meeting at the forum, she also mentioned that the first rate hike in the European Union (EU) this year will take place in July, with an increase of a quarter of a percentage point. She also noted that a rate hike is likely to occur in September as well, and it will be a larger increase than in July. Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management, said:

"In hindsight, I think a lot of board members would like to raise rates as early as June, but it's a very difficult situation because you know we're headed for a slowdown."

TradingView Chart
source: tradingview

Inflation and the problems associated with the war in Ukraine have thrown the EU into financial chaos. Europe's dismal economy has also put considerable pressure on the euro, the region's sovereign fiat currency, which has effect in 19 economies. The euro hit a 20-year low on July 5, 2022, reaching $1.0281 per euro, the lowest against the US dollar since December 2002.

Mizuho FX analyst Neil Jones told Bloomberg on Tuesday that parity with the US dollar is "now just a matter of time." Dominic Bunning, head of European FX research at HSBC, told Bloomberg it was "hard to find much positive to say about the euro".

With the ECB holding its line and only seeing a 25 basis point hike in July – at a time when others are climbing much faster – and waiting for September to bring faster tightening, there is also little support coming from high-yield bonds .

In addition to the ECB dealing with inflation and war-related problems, Great Britain is also suffering. The Bank of England detailed in the report that the economic outlook appears bleak and central banks expect British households to struggle to make payments. In mid-June, the British pound (GBP) faced the same problems as the euro because dropped below $1.20 against the US dollar, the lowest in two years from March 2020.

You might be interested in: Best Forex Broker in Europe - Top Forex Broker Platforms in 2022

Interesting events for our readers

Binance

Trade with up to 60% off fees and a $600 bonus

Open an account Review

Phemex

Free bonus up to $ 2,500 upon registration and deposit

Open an account Review

Bybit

Free bonus up to 3650 USD after registration and deposit

Open an account Review
All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
Tags: euroPoundUSD

Similarly articles

Snorter Bot Token Is Gaining Attention — A Meme Coin Project with Potential Growth
News

Token Snorter Bot získává pozornost — projekt meme coinu s potenciálem růstu

July 28, 2025
Galaxy Digital Offloads $9 Billion in Bitcoin Without Triggering a Crash
News

Galaxy Digital prodává Bitcoin v hodnotě 9 miliard dolarů, aniž by vyvolal pád

July 27, 2025
Snorter Presale Passes $2.2M — A Notable Altcoin in the Telegram Trading Bot Space
News

Snorter předprodejové vstupenky přes $2,2M — Významný altcoin v oblasti obchodních botů na Telegramu

July 26, 2025
Ethereum Spot ETF Inflows Hit $332M as Altcoin Rotation Surges, Flipping Bitcoin Volume
News

Přílivy do Ethereum Spot ETF dosáhly 332 milionů dolarů, když vzrostla rotace altcoinů a překonala objem Bitcoinu

July 24, 2025
Altcoin Season Picks Up — TOKEN6900 Nears $1M Raised Among Notable New Tokens
News

Sezóna altcoinů nabírá na obrátkách — TOKEN6900 se blíží k 1 milionu dolarů vybraných mezi významnými novými tokeny

July 23, 2025
Bitcoin HYPER: An Emerging Layer-2 Presale Project in 2025 with Growth Potential
News

Bitcoin HYPER: Nově vznikající projekt presale vrstvy 2 v roce 2025 s potenciálem růstu

July 22, 2025
Sign in and comment.
  • We recommend

    • Get 60% back and a $600 bonus through us!
    • Reliability
    • Wide selection of cryptocurrencies
    • CPC support
    Visit Review
    More info
    • Free bonus up to 3650 USD after registration and deposit
    • Reliability
    • Low fees
    Visit Review
    More info
    • Free bonus up to $ 2,500 upon registration and deposit
    • Reliability
    • Wide selection of cryptocurrencies
    Visit Review
    More info

Tags

stocks analysis bankruptcy binance bitcoin blockchain btc cryptocurrency exchange cardano coinbase cpi dogecoin to kwon do ecb elon musk eth etherium Ethereum The Merge European Union FED FTX inflation investment crypto exchange cryptocurrencies LTH bear market instructions on-chain data fees survey review recession regulation of cryptocurrencies Russia Sam Bankman-Fried Sec Solana stablecoiny Terraform Labs tether miners usa Vitalik Buterin gold

Recent Posts

  • Decentralizovaná messagingová aplikace Bitchat od Jacka Dorseyho byla spuštěna na App Store
  • Všechny altcoiny půjdou na nulu, říká bitcoinový býk Adam Back
  • Token Snorter Bot získává pozornost — projekt meme coinu s potenciálem růstu
  • Pump.fun se šušká, že spustí motivační kampaň s odměnami $PUMP, aby získal zpět podíl na trhu od LetsBONK
  • Na radaru – Co sledovat tento týden v kryptu
  • Galaxy Digital prodává Bitcoin v hodnotě 9 miliard dolarů, aniž by vyvolal pád
  • Bitcoin stoupá na 117 000 USD poté, co Galaxy dokončila prodej 80 000 BTC pro raného velrybu

© 2022 DigitalTrend

No result
Show results
  • Introduction
  • Cryptocurrencies
    • Cryptocurrency prices
    • Where to buy bitcoin and cryptocurrencies
  • Internet
  • Online shopping

© 2022 DigitalTrend

Welcome back!

Log in to your account below

Don't have a password?

Get a password

Enter your login name or email.

Login
cs_CZ Čeština
cs_CZ Čeština
sk_SK Slovenčina
en_US English
de_DE Deutsch
es_ES Español
it_IT Italiano
nl_NL Nederlands
ru_RU Русский
vi Tiếng Việt
ko_KR 한국어
ja 日本語
zh_CN 简体中文
We use cookies to provide you with a better browsing experience, analyze web traffic, customize content, and display targeted ads. If you continue to use this website, you agree to the use of cookies by us.