The exchange rate of the dollar against the Euro rose to its highest level in 13 years. At the peak of the value of American currency reached the level of 0,9608 euros for dollars, which is 1.23% above the closing level of the previous trading session. The last time more than 96 cents per$. the exchange has given on 8 January 2003, when the value of the dollar rose to 0,9653 euros for dollars.
The Euro-dollar exchange rate declined on Thursday to $1,0406 that is the lowest value since January 8, 2003. Thus, the Euro has fallen even more than stated in the forecast of analysts of Sberbank CIB, under which the EUR/USD pair could test the key support level at $ 1,0450. the Euro “in the coming days.”
Experts attribute the strengthening of the dollar against accepted 14 December, the Federal reserve (the fed) to raise the key rate by 25 basis points (up to 0,5–0,75%) and the statement of fed chair Janet Yellen about the possibility of tripling rates next year.
“If pair [Euro — dollar] will finish the week lower of 1.05, talking about the movement towards parity will reach a new level,” says chief currency strategist at investment Bank Saxo Bank John hardy.
Before the Federal reserve has not only raised interest rates but announced the intention to revise it to increase three times in next year, says senior analyst “Alpari” Anna Bodrov. This means that the dollar has received long-term support and will be expensive. “Now on the market again will resume the talks about possible Euro-dollar parity, and the possibilities are there — but in the future, not now. After a week or two the excitement in the foreign exchange market will subside, the EUR/USD will try to consolidate in the range of 1.04 to 1.06,” — says Bodrov.
According to her, currencies of emerging economies naturally came under pressure on the background of the rise of the U.S. dollar. The exception is the Russian ruble here comes the game by their own rules, but Russian ruble pairs are unlikely to long resist the pressure of the dollar. The end of the year the American currency has all the chances to meet in the range of 63-65 RUB.
In mid-November, a number of analysts Bloomberg surveyed had predicted the release of the dollar and the Euro at parity in early 2017.
The introduction of the Euro in 1999 its exchange rate against the dollar was defined to 1.18 dollars. the Euro, however, by October 2000, the Euro fell to $0,8252. Then the Euro-dollar exchange rate went up again, reaching its peak in July 2008, when for one Euro gave more than $1,6.
On the Moscow exchange rate of the Euro against the ruble fell 15 Dec to 64,1725 RUB, 1.67% below the closing level of the previous trading session. The dollar at the minimum decreased to 61.32. (-1,25%).