At the same time, the greenback was up 0.22% against a basket of six other major currencies, including the euro, at its highest for almost six weeks. The EUR/USD pair is at its lowest since the first years of the introduction of the single currency, as the following chart illustrates:
The course since 2000
The US currency continues to benefit from the prospects of a rate hike in the United States, while in the euro zone, the risk of a deterioration in the economic situation prevails. The morale of the economic leaders of the old continent is deteriorating under the battering of rising gas prices. The release of the August PMI indicators tomorrow may provide additional information on upcoming activity in the region.
Since the start of the year, the euro has fallen sharply against the US dollar:
The fall to parity