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Euro US dollar parity just around the corner?
Published on 20.12.2016 15:11

The Euro has come under renewed pressure today on the back of 2 terrorist attacks yesterday that rocked the European continent and sent investors flocking to safer currencies such as the US dollar.

At 12.39pm (GMT) the Euro was trading at $1.359 against its US counterpart down from $1.399 in yesterday’s trading.

A Christmas attack on a market in Berlin yesterday by an Afghani national left 12 people dead and many more injured has raised concerns about German chancellors Angela Merkel’s decision to allow over 1 million refugees into Germany.

"For now, there is little we know about this deed with certainty, but given the current information we have, we have to assume we are dealing with a terrorist attack," noted German chancellor Angela Merkel.

 "I know that it would be particularly hard to bear for all of us if it was confirmed that the person who committed this crime had asked for protection and asylum in Germany." She added.

Also adding to the tensions was the Assassination of the Russian ambassador Andrey Karlov yesterday in Ankara which threatens to once again break open relations between Russia and Turkey.  

The European currency has now fallen in 5 of the past 6 trading sessions is threatening to fall to a 14 year low with some now predicting that we may be just weeks away from parity with the US dollar.


Andrew Masters

Analyst

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