The euro recently sank to a five-year low against the dollar, raising expectations that the world’s two most traded currencies could soon reach parity for the first time since 2002.
On Tuesday, the euro exchange rate with the dollar was hovering around $1.05, down about 7.3% year to date and nearly 14% below year-ago levels. Last week, the euro approached its 2017 low of $1.034 before rebounding a bit this week.