Euro/Dollar Parity & Summer Travel
Summer travel is picking up this year. If you’re headed to Europe, you may notice that you get more bang for your buck.
Why is that?
For the first time in almost 20 years, the U.S. dollar and the euro have reached parity. Souvenirs will be cheaper for Americans, but Europeans coming this direction may feel the pinch of more expensive goods and services.
The U.S. dollar has strengthened against the euro in part because of differences in monetary policy. The U.S. has been raising rates to slow inflation, while the European Central Bank (ECB) has been hesitant for fear of slowing economic growth. However, with the ECB expected to raise short-term rates this month for the first time in over a decade, euro/dollar parity may be short-lived.
If there’s anything about your investment strategy that you’d like to review, let’s talk. And if you’re headed to Europe, send me a vacation photo!
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Dr. Jason Van Duyn
AQuest Wealth Strategies
Dr. Jason Van Duyn CFP®, ChFC, CLU, MBA is a Registered Representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA & SIPC. The LPL Financial registered representative associated with this site may only discuss and/or transact securities business with residents of the following states: IN, IL, TX, MI, NC, AZ, VA, FL, OH and CO.