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Euro Sinks to Near Parity with U.S. Dollar
The euro has weakened against the American dollar from $1.40 last spring to a 12-year-low of about $1.09 today.
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The euro has weakened against the American dollar from $1.40 last spring to a 12-year-low of about $1.09 today. Some economists predict the regional currency will fall below parity within months.
Analyst attribute the nearly year-long slide to the widening gap between economic growth in the U.S. and Europe. Last year America's gross domestic product expanded 2.4% compared with 1.3% for the EU-28.
The euro has approached or dropped below parity with the dollar only a few times since its launch in 1999. The currency reached an all-time high of $1.60 in 2008.
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