Living
Travelers Head to Europe as Strong US Dollar Helps Offset Inflation
The dollar is approaching parity with the euro for the first time in 20 years and vacationers are taking notice.
This article is for subscribers only.
Airfare and hotel prices are surging along with nearly everything else, but American travelers have an ace up their sleeves this summer: a strong currency.
The dollar is near its highest level in two decades versus major peers, helping to offset inflation and making trips abroad more affordable. Europe is one destination that’s looking particularly attractive as the euro, which traded at an average of $1.18 over the past decade and surged as high as $1.60 in 2008, is approaching parity for the first time in 20 years. The pound has also weakened considerably against the dollar, trading around its lowest level in two years.