currency

The magnificent euro is holding up remarkably well (for now)

The Fed is compounding the shock by draining global dollar liquidity at a net annual pace of $2 trillion, that is to say by switching almost overnight from $120bn a month of QE asset purchases to near mirror-image asset sales (QT). Ferocious tightening by the world’s superpower central bank has turbo-charged a parallel development: America’s …

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Euro tumble to 20-year low against dollar over fears Putin will cut off gas

Lee Hardman, an analyst at MUFG, said that it is “only a matter of time” before one euro is worth less than one dollar, after the bloc’s currency tumbled more than 11pc against the greenback this year. He said: “The main driver for euro weakness continues to be building concerns over greater disruption for European …

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