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3/12/15

EURO - France’s Hollande upbeat as euro nears parity with dollar

French President Francois Hollande says the euro has reached a good level against the US dollar as the two currencies edge closer to parity.

"There will be a favourable effect on activity with a euro that is now at a good equilibrium," Hollande told reporters on Thursday, noting that when the euro was created it was also near parity with the dollar.

Earlier in the day, the single European currency briefly fell below $1.05 in Asian trading, its first such drop in 12 years, and analysts believe it could soon ease further.

The euro, which neared $1.40 last May, has been sliding as the European Central Bank (ECB) embarked on a 1.14 trillion euro stimulus programme designed to boost flagging growth across the 18-member bloc.

Read more: Business - France’s Hollande upbeat as euro nears parity with dollar - France 24

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