Opinion | The Incredible Falling Euro Nears Dollar Parity
Every month seems to find a different currency somewhere in the world in sharp decline, and the unlucky winner for July is the euro. The eurozone currency, shared by Germany, France, Italy and 16 others, is flirting with parity to the U.S. dollar for the first time since 2002.
This is a dramatic shift since the start of the year, when one euro bought about $1.14. Parity signals a 12% depreciation. This may seem like no big deal unless you’re a currency trader. But sharp movements in exchange rates create uncertainty and can lead to economic and financial instability.
