Time to Visit Europe: Dollar-to-Euro Exchange Rate Is the Closest It's Been in Years

The Ukrainian-Russian war prompted European countries to cut oil imports from Russia and disrupted trade channels, causing soaring inflation. Russia cut off gas supplies to Poland and Bulgaria — if that trend were to continue in other parts of the region, the expected outcome would be a recession. Viraj Patel, a global macro strategist for Vanda Research, told the Wall Street Journal that the war in Ukraine has caused the likelihood of parity between the euro and the dollar to increase from 30 percent to 75 percent.

However, not everyone thinks the euro and dollar will reach that one-to-one ratio. The euro quickly bounced back from achieving the same levels in 2017. So if you’re looking to take advantage of the declining value of the euro, do it now before it’s too late.