Euro Weakness Booms Bitcoin and Stocks

merkel draghi 2013

The euro has turned downwards against the dollar after reaching a two year high at $1.235 per euro. Since January the currency has lost 3.5 cent to now $1.2, seemingly reversing a dollar weakness trend. This may be because the European economy is expected to contract again this quarter due to strict lockdowns, while in US they take a far more lazy fairy approach not least because Americans are and have been disobeying. There’s signs the Europeans are beginning to do so too. In Poland in particular, people are opening restaurants despite that being against the decrees, with courts there saying all these lockdown rules are unconstitutional. Americans moreover arguably have handled better the financial side of the lockdowns, while in Europe complaints keep increasing regarding lack of financial asssistance. The US has handed out some $5 trillion in stimulus and plans another $1.9 trillion, while Europe has barely done…

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