The euro hit a record high against the dollar and travelers are taking advantage
The euro slipped to its lowest value in 20 years against the dollar on Tuesday, according to CNBC. Analysts note that it could fall further.
“Our outlook, our trading and our position on the strategist side are definitely pointing towards further depreciation of the euro from where we are now,” said Luis Costa, Head of Central and Eastern Europe Strategy. , Middle East and Africa at Citibank, "Squawk Box Europe."
Costa thinks the euro could weaken against the dollar. The USD is currently strong because currencies tend to get boosted after regulators raise interest rates, which the Federal Reserve did three times in 2022.
The euro has since risen slightly on Tuesday morning, from 0.9968 euros to 1 USD.
The war in Ukraine and the resulting difficulties for European energy markets have affected the decline of the euro, according to Bloomberg. China's post-pandemic slowdown in growth has also shaken things up, Costa told CNBC.
Another complicating factor: On Monday, wholesale gas prices in Europe rose again. Russia has begun unannounced repair work on its most important pipeline to Germany, Nord Stream 1, the outlet added.
The current ratio between the dollar and the euro means it's always a good time for Americans to travel to Europe.
When it's the other way around - meaning the dollar is weaker than the euro - it's "total sticker shock", said Ann Castagna Morin, founder of Your Dream Vacation.
Morin added that due to the weak Euro, she almost got a free night while on vacation in Europe.
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The euro slipped to its lowest value in 20 years against the dollar on Tuesday, according to CNBC. Analysts note that it could fall further.
“Our outlook, our trading and our position on the strategist side are definitely pointing towards further depreciation of the euro from where we are now,” said Luis Costa, Head of Central and Eastern Europe Strategy. , Middle East and Africa at Citibank, "Squawk Box Europe."
Costa thinks the euro could weaken against the dollar. The USD is currently strong because currencies tend to get boosted after regulators raise interest rates, which the Federal Reserve did three times in 2022.
The euro has since risen slightly on Tuesday morning, from 0.9968 euros to 1 USD.
The war in Ukraine and the resulting difficulties for European energy markets have affected the decline of the euro, according to Bloomberg. China's post-pandemic slowdown in growth has also shaken things up, Costa told CNBC.
Another complicating factor: On Monday, wholesale gas prices in Europe rose again. Russia has begun unannounced repair work on its most important pipeline to Germany, Nord Stream 1, the outlet added.
The current ratio between the dollar and the euro means it's always a good time for Americans to travel to Europe.
When it's the other way around - meaning the dollar is weaker than the euro - it's "total sticker shock", said Ann Castagna Morin, founder of Your Dream Vacation.
Morin added that due to the weak Euro, she almost got a free night while on vacation in Europe.
How millionaires prepare for a recession, according to a former Wall Street trader
5 self-care habits of every successful entrepreneur
Listen carefully to what people are asking you. This is where you will find your hidden power.
Gen Z customers want more. This 3-step strategy will help your business give it to them.
This Founder Was Madly Pulling A Pandemic Pivot When...The FBI Showed Up On Her Doorstep With Guns, Seized Her Money And Told Her Husband He Was the target of a criminal investigation
Take customer service to the next level with
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