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Could Euro Reach Parity With US Dollar by Year’s End?

April 15, 2016 at 13:45 by Miranda Marquit

Euro sign monument with ECB on backgroundEuro is trading mixed today, gaining against the US dollar while falling against other major counterparts. However, even though the 19-nation currency is higher against the dollar, some analysts feel that the recent rally is coming to an end and that parity with the greenback may be reached by the end of the year.

A number of analysts have been wondering if the euro has been overbought. The 19-nation currency has been performing fairly well against other currencies, particularly the dollar, since the beginning of the year. However, the eurozone economic data has not been there to support such a rally, and there are concerns that the euro will fall.

Instead of falling, though, the currency has rallied. Euro is trading mixed today, though. While gaining against the US dollar, the euro is also down against the pound and the yen. There is some speculation that the euro can’t maintain its strength against the US dollar for much longer. Others think that the euro will drop to parity with the greenback by the end of 2016.

at 13:42 GMT EUR/USD is higher, moving up to 1.1285 from the open at 1.1267. EUR/GBP is lower, dropping to 0.7958 from the open at 0.7960. EUR/JPY is down to 122.8530 from the open at 123.2580.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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