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US Dollar Close to Highest Versus Euro Since Euro’s Launch, in 1999

Market CommentaryUS Dollar Close to Highest Versus Euro Since Euro’s Launch, in 1999

by Peter Lavelle

Welcome to my latest update of the US dollar to euro exchange rate.

The greenback continues to strengthen versus the common currency!

The US dollar has hit 0.8933 today, less than a cent from its highest against the euro since the euro’s launch, in 1999.

Moreover, the buck looks set to rise higher versus the euro. Here’s why:

1. The euro may weaken, because the European Central Bank is set to begin it emergency monetary stimulus today, whereby it injects billions of euros into financial markets.

2. The euro could lose out, because Germany is forecast to stay in deflation in February, with prices falling a worrisome –0.5%.

3. The euro may decline, because economist Moritz Kramer thinks that Greece’s extreme left-wing government Syriza “may start to become a little more brittle.”

4. The US dollar could fly meanwhile, because the US economy created more jobs last year than any time since the 1990s.

5. The greenback may also climb, because the Federal Reserve is the only major central bank on course to hike interest rates this year.

So, the US dollar may jump above its highest versus the euro since 1999!

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