The weakness of the Euro (and the strength of the U.S. dollar) is unfortunate for the Europeans. Citizens in the Eurozone appear to have a tough winter and a potentially deep recession to endure in the months ahead. We hope that doesn’t come to pass, but what is clear is that the Euro is in decline, which may, or may not, be transitory.
Earlier this week, the Euro and U.S. dollar reached parity, and in fact, the Euro even dipped slightly below one U.S. dollar on Wednesday. Parity between the two major world currencies hasn’t happened in 20 years, and some analysts posit that the Euro has even further to fall. Read the rest of this entry »