The Euro currency exchange rate status
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After topping out against the US dollar the Euro has declined in response to the widening of the worldwide economic crisis. Prior to this, European residents enjoyed greater US purchasing power which fed through to prominent shopping districts such as New York. Some claim that the Euro currency exchange rate is still overvalued whilst others argue that it is a potential replacement as the world’s reserve currency. Economic powers outside of the United States have held discussions on potential trade replacements to diversify currency holdings. Time will tell as to whether the US dollar retains its status as the world’s reserve currency.
