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Euro drops to a one-month low against US Dollar


It might be fair to say the US Dollar and wider American economy are anomalies. They have been for over one year.

Despite similar lockdowns in major centres as in other Western economies, supply chain problems that disable all sectors of industry to a similar extent as in Western Europe and a similar approach towards geopolitical issues between the West, Russia and the West, the American economy is not in the same bad shape as other regions.

This oddity is compounded further by the fact that the US Dollar has remained very strong against all major currencies for the entire year.

Yesterday saw the US Dollar show its strength once again. The Euro fell to a one month low against the greenback. At the beginning of the European trading day, the rate was at the low end in the 1.05 range.

Some data that was released Tuesday have had an impact on the Euro’s currency value. One example is that retail sales within the Euro area, a good indicator for consumer demand and a proxy for consumer spending, fell less than anticipated in January. This has challenged other data such as PMI surveys, which indicated a steady recovery.

Energy prices are…

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