There was a time a few years ago, and again in the last six months, when Europe was on sale for Americans. Shit was cheap, Americans were rich and loaded, and most importantly dollar strength gave ya'lls pleeeenty of good access to goods and services this side of the pond.
Alas, no more. Dollar weakness (at least directionally, if not levels); looming American recession; and stock markets (plus the stupid rebel bitcoin #908702) collapsing.
Now, the euro is "rallying," so _no more cheap Med vacations (#874003).
The euro’s sharp fall after Donald Trump’s November US presidential election victory to below $1.02 early last month meant parity with the dollar seemed inevitable in the eyes of some analysts and investors. Many assumed that the Eurozone economy would be in the front line of a full-blown global trade war.
But the currency has enjoyed a blistering rally this month, helped by the potential economic lift to the region from a German plan to inject hundreds of billions of euros in extra funding into the country’s military and infrastructure. The dollar, meanwhile, has weakened amid growing anxiety over the health of the US economy.
Maybe some lingering hope?!
Bank of America’s David Hauner argues it is way too early to call for a sustainable revival of the euro, as it is “only in the last few weeks that investors have started to warm up to the idea the dollar will weaken” and that the tide can turn “with any new headline”
plus, added disadvantage: makes it much harder to count now (1:1 was just simple, thank you!)
non-paywalled:
https://archive.md/X3ctn