Daily Times

The dollar and the euro are “practically” at the same price internationally, in the face of fears of a recession in European markets and the war between Russia and Ukraine. This Friday the euro collapsed and was quoted at $1.01, this being the closest figure to the dollar for 20 years. International experts predict that in a matter of days both currencies will reach parity. The Euro will continue to approach parity unless the ECB adopts a shock measure, such as a 0.50 percentage point hike” in its main interest rate, estimated Ipek Ozkardeskaya, an analyst at SwissQuote. The dollar is further boosted by a more aggressive monetary policy by the US Federal Reserve (Fed).”Growing fears of a recession send the euro lower, while the dollar rises on bets that the Fed will maintain its rate hikes aggressively to curb inflation,” City Index expert Fiona Cincotta told AFP.