The exchange rate of the single European currency is likely to remain at parity with the US dollar throughout the summer, experts say. As you know, on the eve the American currency for the first time since 2002 became more expensive than the European one. The current quote of the EUR/USD pair is 0.9979 dollars. Analysts believe that the ECB may try to raise the euro in the near future. Representatives of the regulator fear that the euro/dollar pair will spend the whole summer near parity, and the lower limit of the range in the near future may be the level of 0.9800. At the same time, the pair may recover by the end of the year as the global situation with risky assets improves, as well as against the background of expectations of the end of the US Federal Reserve policy tightening cycle. Experts also note that the consequences of a very weak euro for the European region are twofold. On the one hand, a weaker domestic currency means more imported inflation. On the other hand, the export-oriented eurozone economy may benefit from a weaker euro, as its exports will become more attractive.
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