English Blogactiv Posts - EU Blog Platform

Euro exchange rate reached nearly $1.40, the highest level since October 2011. This development is raising concerns. What is good for European tourists traveling to US or Asia is very bad for domestic industry and trade. It’s increasing the prices for their products. Even more concerning: It’s not only volatile business on the exchange markets but a main trend. US-currency is traditionally the most important reserve currency but investors are now turning away from the dollar. The euro is becoming increasingly important and increasing its value constantly. European Central Bank has to find a new way to deal with this main trend and to avert further damage to the domestic economy.

Author :
EurActiv Network