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During 2000, the euro...

Автор: olegj от 15-03-2013, 06:03

During 2000, the euro...

During 2000, the euro / dollar fell even more dramatically, triggering the world's largest securities go into action in the foreign exchange market. At the end of September 2000 the ECB, the U. S. Treasury, the Bank of Japan, Bank of England and several European banks held a joint intervention in support of the single European currency. According to economists, the further depreciation of the euro could hurt the global economy. Actions banks almost failed, as early as October 2000, the euro reached a historical low at $ 0.8230 per euro. In addition, the head of the European Central Bank has recognized that further intervention to support the euro would be counterproductive against the Middle East crisis undermined the stability of the currency markets around the world.

During 2000, the euro...

Further, when at the end of 2000 it became clear that the U. S. can not avoid a new recession, the Fed decided to ease monetary policy. In 2001, for the withdrawal of the country's economy out of the crisis and promoting economic growth the U. S. interest rate was lowered three times and finally at the end of the year has fallen below 2%. As a result, due to lower U. S. rates relative to the U. S. currency rate of the ECB began to lose ground against the euro. In addition, the September 11, 2001 the U. S. economy experienced a shock of the terrorist attacks, which also gave optimism dollar.

After reaching a record low against the dollar for the European currency in 2001 made numerous attempts to recover but could not climb above $ 0.96. In January 2002, the euro was introduced in the cash circulation. We can say that from that moment began a gradual increase of the European currency. At the end of March 2002 speech of the Fed Alan Greenspan about the fact that the recovery of the U. S. economy is in doubt, added to the negative potential investors, and the euro since April 2002 never dipped below $ 0.87. In July 2002, the European single currency once again reached parity with the dollar.

Analysts began to talk about the collapse of the dollar as the most stable and strong currency in the world and predicted a further decline of the U. S. currency on world currency markets. After this important event in the world currency markets, the euro pulled back a bit due to the fact that the representatives of the European Commission recognized identify the problems with the budget deficit in the largest economies in the Eurozone.

However, December 6, 2002 currency leveled against each other, and from that moment to this day the single European currency has become more expensive than the U. S.. The reason for the dollar's decline was the American economy, which again disappointed economists showed no such increase, how has it all been waiting for. U. S. military action in Iraq and fears of investors expecting the negative effects of the war on the American economy, did the trick. Since the beginning of 2003 to the end of May of the same year the euro against the dollar has already increased by 13% and close to the level of 1.1736, where the single European currency began its official market life Jan. 4, 1999. Finally, on Friday, May 23, 2003, at the end of the working day in Tokyo and Hong Kong, and at the beginning of the working day in Europe, the euro broke above the level of "birthday", then worked numerous stops to sell the U. S. currency. Leaders ECB showed no concern about the growth of the euro, despite evidence of declining profits of European exporters and zero growth in the euro area GDP in the I quarter of 2003 compared to the IV quarter of 2002.

During 2000, the euro...

According to the ECB, the euro reflects the fundamental economic conditions. However, after reaching a maximum optimism currency speculators began to decline. The state of the Eurozone economy has actively deteriorate under the pressure of the appreciated currency. Europe's financial markets have increased expectations of a considerable decrease in the interest rate the ECB. At a meeting of the ECB June 5, 2003 it was decided to reduce the key interest rate by 50 basis points to the level of 2% to stimulate economic activity in the region and reduce the threat of deflation.

As a result, within three months the euro has returned to the starting position in 2003 against the U. S. currency. The next stage in the history of the European single currency was a new wave of growth until February 2004. The euro once again began to rise in September 2003, but this was due to the strengthening of the euro does not, but rather a serious weakening of the dollar. To confirm this, the euro began to decline in relation to the British pound sterling.

During 2000, the euro...

In addition, it reflected the difference in interest rates of the euro area and the UK.

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