Euro Set to Hit Parity With Dollar in a Month, Wells Fargo Says
- Rate gap drives euro down 8% versus US dollar this year
- Short bets on the pair have further to go, Wells’ Nelson says
This article is for subscribers only.
The euro is poised to hit the same level as the US dollar within a month as the widening gap between interest rates and economic growth in the US and Europe drags down the common currency, according to Wells Fargo.
Such a drop would mark the first time in two decades that the euro has equaled one dollar. The euro was little changed at $1.04 Tuesday, steadying from a three-day drop.