The euro has hit $1.20 for the first time since January 2015 as the prospect of a US interest rate rise recedes.
The economic damage caused by “Hurricane Harvey” has led financial analysts to believe the US central bank will not want to risk curbing economic growth.
American experts say, a rise in interest rates tends to draw investors to a currency, taking advantage of the higher returns.
Meanwhile, the euro has itself been gaining against a range of currencies, as the economy improves in the eurozone.
Against the dollar, the euro has risen by almost 15% so far this year. In addition, the euro continues to strengthen against the UK pound and the Thai baht.
I am no expert, but it might be time to buy some euros.
News Source – BBC News