FRANKFURT, Jan. 13 (Xinhua) --The euro fell below the significant threshold of 1.02 U.S. dollars on Monday, marking a new low since late November 2022.
The European Central Bank (ECB) set the reference exchange rate for the euro against the U.S. dollar at 1.0198, reflecting the currency's continued decline. Analysts warn that the euro could edge further downward, potentially testing the lowest levels recorded in 2022.
The U.S. dollar's strength is attributed to unexpectedly strong employment data in the United States, which has bolstered confidence in the American economy and increased demand for the dollar, according to analysts.
Goldman Sachs Group has recently revised its outlook for the euro, predicting it could dip below parity with the U.S. dollar, with the exchange rate potentially falling to 0.97 to 1.
