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FX Concepts’ Taylor Says Euro May Drop to Parity With Dollar

The euro will sink to parity against the dollar as the European sovereign-debt crisis shrinks investor appetite for the 17-nation currency, according to John Taylor, founder of the world’s largest currency hedge fund.

“It should be a lot lower than it is,” Taylor said in an interview on Bloomberg Television’s “Street Smart” with Lisa Murphy. “It’s a distinct possibility” that the euro could weaken to trade on a one-to-one basis with its U.S. counterpart in the next 18 months, he said.