NEWSWEEK: Experts expect 1:1 trade currency exchange to happen within three months.
NEWSWEEK: Experts expect 1:1 trade currency exchange to happen within three months.
The European Central Bank (ECB) launched a new programme of quantitative easing (QE) on Monday, which has contributed to the euro falling to its lowest level against the dollar in 12 years. As of 3pm today, the euro/dollar rate on the London Stock Exchange was 1.06.
The declining value of the euro is of concern to British and U.S. businesses, whose exports will be more expensive for Eurozone nations and thus could see a fall in demand. The continuing doubts over Greece’s ability to meet its bailout repayments also contribute to a sense of insecurity which could lead the currency’s value plummeting even further.
