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Euro slips again against the U.S. dollar

The euro has slipped below one U.S. dollar again.

By Mike Hesp
• 2 min read
Euro slips again against the U.S. dollar

The euro has fallen again below the value of one U.S. dollar. This puts the eurozone currency at a historic low.

The euro shed value again against the dollar yesterday and is currently trading at around 0.9927 U.S. dollars. This comes from the EUR/USD-chart from the European Central Bank (ECB).

The common currency hasn’t traded lower than today since December 2002.

In mid-July it fell below parity with the U.S. dollar for the first time, but has since recovered somewhat. The ECB's rate hike at the end of July also contributed to this.

So far, Christine Lagarde and her team have offered no comment on the historic decline. The statement to the Wall Street Journal from the head of the regional Fed in St. Louis, James Bullard, that the Fed's benchmark rate in the U.S. needs another 75 basis point hike could have been important for the current weakness. There are, however, still many factors driving the euro's depreciation.

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