For the first time since 2002 The euro fell below the level against the dollar. This afternoon, July 13, the single currency entered into force $0.9998, before returning slightly higher than the US currency. The inflation rate in the United States has also increased pressure on the euro (+9.1% in June YoY), at the highest level for 40 years. USA President Joe Biden He said that inflation is “high to unacceptable levels,” stressing that the figure refers to the month of June, which was marked by high energy and gasoline prices, which are now declining. “Tackling inflation is my priority: we need to move forward quickly to get prices back in control,” the president added.
Reasons for the alert
This new glow in prices, above analysts’ expectations, gives a glimpse of one of them feed it Willing to raise rates by another 0.75% at the next meeting. a aggressive policy By the US central bank, the weak European economic outlook and the energy crisis originated from Tensions with Russia They make the dollar more attractive. In 23 years, the single currency has reached its own level The highest level against the dollar in 2008 (1.6). It’s been weeks since bankruptcy Lehman BrothersThe euro has become a haven for investors. These levels have not been reached since then. Since the beginning of 2022, The euro fell 12% Against the dollar, the trend does not seem to stop.