Euro Reaches Parity Against the US Dollar, While the USD Index Taps a 20-Year...
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....
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U.S. inflation comes in a full 0.3% higher than expected, causing a dollar strength spike and the euro to fall below parity with USD. Bitcoin (BTC) fell $800 in minutes on July 13 as the latest United States Consumer Price Index (CPI) data came in far ahead of estimates.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar smashes new 20-year highs on hot CPIData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dived under $19,000 minutes after the June CPI print, which put U.S. inflation at 9.1%.Expectations had favored 8.8% CPI year-on-year, this still....
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....
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....
After Huobi Global announced that it would be delisting the stablecoin HUSD and auto-converting customer balances 1:1 with tether tokens, the stablecoin asset has dropped significantly in value sliding to a low of $0.72 per unit. HUSD Remains Below the $1 Peg Another stablecoin is struggling to maintain parity with the U.S. dollar as HUSD has slipped from the $1 peg to $0.746 per unit on Oct. 30, 2022. At the time of writing, the stablecoin token is exchanging hands for $0.765 per unit and there’s only $59,790 in global trade volume during the past 24 hours. Two days ago, Bitcoin.com News....
According to the European Union’s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August. The inflation rate in September tapped a 40-year high, and investors suspect that the eurozone is “at risk of a financial meltdown.” European Union’s Consumer Price Index Taps a 40-Year High, EU Residents Take to the Streets to Protest Scorching Inflation Europe’s inflation has jumped a great deal since September 2021, according to the recent report published by Eurostat on Wednesday morning. “The euro area annual inflation....