Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU C...
On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six months. Analysts claim the pound and euro are trapped in a “doom loop” and it’s also been said that the U.S. dollar is “the only possible hedge” against a failing global economy. Citigroup Analysts Say Greenback Is the Only Haven in This Macroeconomic Environment....
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Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the US Dollar, Greenback Skyrockets Against a Basket of Fiat Currencies Even though it was a goal for the European Union (EU) to introduce a sovereign fiat currency for the EU back in the sixties, the euro did not get introduced until January 1, 1999. At first, the euro was introduced....
The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time, the pound tapped 1.0327 nominal U.S. dollars per unit, but rebounded against the greenback to 1.0775 by 11 a.m. Monday morning.
Pound Sinks Against Greenback to $1.0327 but Manages to Rebound Back to $1.0826
On Monday, September 26, 2022, the British pound sterling reached an all-time low against the U.S. dollar. The pound’s losses follow the euro sliding to a 20-year low against the Greenback on....
The euro has had a sluggish start to the second half of 2022 as the fiat currency slid to a 20-year low against the U.S. dollar. The drop adds to the fear that the global economy is in a recession and analysts believe that the risk of “parity is just a matter of time now.”
Euro Nears Parity With US Dollar
Policymakers at the European Central Bank (ECB) have been dealing with record inflation levels but have been much slower than the U.S. in terms of raising the benchmark interest rate. On June 27-29, members of the ECB met at the European Central Bank’s....
British bitcoin exchange Netagio is exiting the gold market next month due to weak demand. The exchange will remove its two order books for gold trading by the end of the year, according to Netagio CEO Simon Hamblin. Netagio will instead enter the dollar and euro markets, with new order books for trading bitcoin for those currencies to be launched in mid-December. The company declined to specify a date. Hamblin said the firm is repositioning itself to tackle the larger euro and dollar markets, while leaving its longstanding links to the gold industry behind. "We're receiving this demand....
Our expectations were met again with the price of BTC/USD overcoming both resistance levels of $400 and $410. Currently, the Bitcoin price reached $ 420. During today, the price rose by 7%. However, this situation is primarily due to a falling price of the US Dollar against various currencies such as the Euro, British Pound, Yen, and well Bitcoin too. Moreover, a report on China's trade surplus, which resulted in the situation on the commodity market in China stabilizing was recently published. According to that report, net export increased by 64% in comparison to the year 2014. Positive....