Euro falls to 20 year low against USD

Looks like European assets and tourism are on sale.

1 Euro = $1.02 USD

/eom

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Looks like European assets and tourism are on sale.

I don’t know about European assets, but a coffee at some of my favorite places last summer was 4.50 euro and is now 5.50 euro. That means that last summer in US$, it was about $5.40 and this summer it is about $5.60. So pretty much the same price in US$.

I haven’t looked at hotel prices or car rentals.

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The euro also dropped below parity to the Swiss Franc.

ECB seems unable to meaningfully raise, in consideration of the over-indebted Club Med, and markets have sniffed it out.

So Madame Lagarde, what’s your move?

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Early August in Dublin with family. Should be fun.

Looks like European assets and tourism are on sale.

1 Euro = $1.02 USD

When I was working for Exxon in London in the mid-1980’s, the British Pound briefly approached $1 = 1GBP.

https://www.macrotrends.net/2549/pound-dollar-exchange-rate-…

It was still more expensive than the US when you adjust for quality.

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