The widening interest rate differential between the U.S. and European Union has the U.S. Dollar strengthening in 2018, a reversal of the 2017 trend. But will it last?
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EUR/USD is the most actively traded currency pair in the world, helped by more than $1 trillion in annual trade between the U.S. and European Union. Approaching 20 years in existence, EUR/USD traded as high as 1.6037 (July 2008) and as low as 0.8225 (October 2000).
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Many thought EUR/USD parity was back in play in early 2017 before the pair unexpectedly rallied. What was so surprising was that the rally came in the midst of a widening interest-rate differential that favored the U.S. Dollar. That rally since reversed course with the Dollar showing some strength.
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