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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

What's Next for the Euro after Slump against Dollar?

European Union Euro US Federal Reserve ECB Europe Berenberg Economy Ukraine
A Euro banknote is displayed on US Dollar banknotes in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades.

The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of 2002, the year it was officially introduced.

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