Euro and dollar have reached parity

The euro and the dollar have reached parity for the first time in 20 years on Tuesday, signaling the market's assumption that the European economy is heading for a deep recession as a result of Russia's invasion of Ukraine. Just before the invasion the euro was worth $1.13, and it peaked at $1.60 in 2008. Markets say the European Central Bank’s response to rising inflation has been too cautious. Weak euro will heighten inflation pressures.

(trend.sk)