The euro again is worth more than the US dollar. On Thursdays you can get 1009 dollars for 1 euro. This is the first time in a month and a half that the euro exchange rate is higher than the US exchange rate.
The value of the single European currency was well above the dollar for many years. At the height of 2008, she even earned 1.58 dollars for 1 euro. Since then, the euro exchange rate has fallen.
This decline has accelerated this year, as interest rates in the United States have risen faster than in the European Union. The Federal Reserve did this to curb inflation. The US currency has become more attractive as a result of these increases. As a result, the euro fell below the dollar level for the first time in twenty years in August.
Since mid-September, the dollar has become worth more than the euro. But the roles are now – at least for a moment – reversed.
This is partly because investors believe that interest rates in the US will rise less quickly in the coming period, while a significant increase is expected in the European Union.
The European Central Bank will announce the new interest rate later on Thursday. Interest rates are expected to rise by 0.75 percentage points. The European Central Bank has already said that it will continue to raise interest rates until inflation is brought under control.
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