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Euro dollar parity: Can EUR1=USD1 be avoided?
The euro hit a fresh near-20-year low against the dollar (EUR/USD) yesterday, leading analysts to suggest the currencies are likely headed for parity. The euro dropped as low as 1.017 yesterday, rebounding slightly to above the 1.02 level on Thursday morning before hovering around 1.019 just after midday GMT. It is not the first time the spectre of parity has been raised this year – but is the question now when, not if, it is reached? chart Fireworks ahead? In a note yesterday, analysts at ING called euro-dollar parity “probably the biggest psychological level around in FX” and said that “fireworks look ... (full story)
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