Strengthening of the USD almost led to the equalization of its value with EUR, which was the weakest in the past 14 years this Tuesday. This facilitates traveling to American tourists and encourages European exporters.
Euro fell by 0.3 percent on Tuesday and was worth 1.0367 USD in the afternoon hours. The main factor that contributed to this is the increase of elementary interest rate in the USA by the decision of the Federal Reserves, which made the investments more profitable and increased the demand for U.S. currency.
Market analysts estimate that USD and EUR might be on the same level before the end of the year.
Parity of these values does not have a special market value, but it points to a long-term trend of weakening of the European currency, which is used by 19 countries. In May 2014 EUR was worth 1.40 USD.
This relationship can be illustrated with the price of the ticket for elevator ride to the top of the Eiffel Tower in Paris. According to today’s exchange rates, the ticket costs 17.62 USD, while in 2014 it cost 23.80 USD.