The Euro set a record against the dollar. The value of the European currency on September 1, 2020 exceeded 1.2 dollars for the first time since may 2018, writes Bloomberg. Later, the Euro fell back to $ 1.19.
The Euro is getting more expensive against the backdrop of a weakening dollar. According to the Agency, since March 2020, the single European currency has added 11 percent on the back of measures taken by the European authorities to support it. The us currency, meanwhile, has been falling for five months, as the financial policy of the US authorities undermines confidence in it.
Earlier, economists expressed the opinion that the” strong ” dollar may soon come to an end, and years of high exchange rates of the us currency will be replaced by a period of low quotes. The reason was the easing of the monetary policy of the Federal reserve system (FRS), which serves as the country’s Central Bank. The fed cut its benchmark rate to 0-0. 25 percent. Due to the easing of the regulator’s policy, government bond yields are falling, and investors are beginning to look for other assets to invest in.