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The dollar exceeds the value of the euro for the first time in 20 years

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On Tuesday, the dollar was trading at the same value as the euro in a context of growing fears of a recession.

The dollar exceeded the value of the euro this Wednesday for the first time in 20 years , a day after both currencies reached parity.

The euro fell by 0.4% this morning and traded at $0.99, according to Bloomberg.

This situation occurs in a context of growing fears of a recession that are intensified by concerns about the energy security of the European Union, as well as the current inflationary situation that the continent is going through.

Analysts consulted by the media maintain that the decline in the euro may not stop at this time and will deepen.

While , in June, US inflation accelerated more than expected and fueled speculation in the market about a further increase in interest rates by the Federal Reserve.

Ebrahim Rahbari, head of currency research at Citi, said that the global environment “remains very favorable for the dollar”.

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