Today’s tendency shows that the euro doesn’t stop its fall in relation to the dollar against the background of "relatively successful attempts to prevent Greece leaving from the eurozone.’’ It is not associated with a risk of a default of Greece, but with the steps of the US authorities in respect of the currency.
"An extremely significant drop of the euro occurred on Monday July 13, despite the fact at the morning of this day the eurozone countries at the summit in Brussels agreed to give Greece a new financial aid program,’’ RIA Novosti cites Deutsche Welle.
According to the DW analysts, the currency markets "either have a negative attitude towards the attempts to keep Greece in the eurozone, or responds to quite different factors."
The main one of the "other" factors, the authors named as the actions of the Federal Reserve System (FRS), which after the implementation of an anti-crisis program with almost zero discount rates decided to "put an end to the policy of ultra-cheap money" and increased interest rates.
The DW experts point out that if the FRS continues to pursue this policy, the euro will fall to the level of the dollar in autumn.
