The Euro is about one penny away from reaching parity with the dollar for the first time in 20 years. And some analysts predict the Euro could keep falling… all the way to 90 cents. Insider’s Phil Rosen explains why.
:25 PHIL: First, the US central bank has been much more aggressive in hiking interest rates compared to the European Central Bank, which has pushed US treasury yields higher than those on European bonds. Because of that, investors have flocked to the dollar. At the same time, Russia’s war on Ukraine has sparked an energy crisis, and just today Russia cut off more of Europe’s natural gas supply with the Nord Stream 1 pipeline.