This is historic: The dollar will soon be worth more than the euro

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cropped-images1.jpgThere’s a currency war going on, and the United States is losing. As of Wednesday, the euro had fallen to a 12-year low of $1.05, down from as much as $1.39 just last year. That’s a 24 percent drop in 11 months, to be exact, and there’s no reason to expect it to stop anytime soon.

Now a strong dollar is good for anyone who’s planning a trip overseas, but it’s bad news for anyone who’s planning on selling stuff there. That’s why stocks fell, with markets sliding into negative territory for the year this week, as multinationals that depend on foreign sales took another hit. After all, it’s not just the euro that’s falling against the dollar, but almost every other currency in the world, too — with Turkey and South Africa’s falling more than most on Tuesday.

You could see the dramatic decline in the Euro in this chart:

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