France’s finance minister has called for debate about the strength of the euro, as the currency neared a seven-week peak against the U.S. dollar on Tuesday.
The euro zone currency hit $1.3944 on Tuesday, a smidgen off its year-peak of $1.3965, reached in March. Since the start of the year, the euro has risen 1.37 percent against the dollar, and it is 5.67 percent higher versus the greenback since the start of 2013.
Michel Sapin, the French finance minister, said euro zone members needed to openly discuss the strength of the euro and its potentially negative impact on the regional economy. A stronger euro makes euro zone exports more expensive in the global market, thereby hindering the euro zone’s efforts to grow and regain its competitiveness.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015