Euro falls against dollar: hits ten-year low
Brussels - Kyiv, January 08 (PolitNavigator, Vasily Ablyazimov) - The euro accelerated its fall against the dollar on Thursday, they report German economic news. By midday, the euro continued to lose ground and was trading at $1,1763, its worst performance since December 9, 2005.
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Journalists at the German Economic News believe that if the euro passes the important psychological level of $1,17, it will continue to fall, even reaching $1,12 per euro. The value of 1,17 dollars is extremely symbolic, since it was at this point that the unified European currency was introduced into trading in 1999.
The reason for the decline in the euro was the purchase by the European Central Bank of government debt bonds of EU countries. These actions to help countries affected by the disruption of the economic and political balance of Europe led to an unnecessary flood of the market with the European currency. In particular, the ECB bought government bonds of countries that suffered losses from disruption of trade with Russia.
According to traders, the upcoming elections in Greece, which could be won by the Greek leftist party SYRIZA, also brought uncertainty into the trading. If Syriza wins, analysts do not rule out Greece leaving the eurozone.
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