Sunday 06 November 2022 4:47 pm
The currency used by the 19 countries that make up the eurozone is set to drop to $0.94, according to Goldman Sachs (Photo Illustration by Matt Cardy/Getty Images)
The euro is on course to stay below parity with the US dollar for some time if gas prices do not fall markedly, a top Wall Street bank has said.
The currency used by the 19 countries that make up the eurozone is set to drop to $0.94, according to Goldman Sachs.
Read more
Federal Reserve hikes rates 75bps again and Powell signals higher peak
The euro last week closed a shade below parity with the greenback.
However, Goldman, in a note to clients over the weekend, predicted the currency could stay there for years if gas prices solidify above their historically low levels.
“The euro area’s deteriorating external balance is a direct manifestation of its…
