The euro dropped below the USD for the second time in 20 years after meeting parity with the dollar in mid-July.
With the strong dollar, Wall Street’s main indexes in the red, gold and silver down, and the crypto economy floundering, reportsthat the fear stems from the Federal Reserve’s next rate hike. However, after the U.S. central bank raised the federal funds rate by 75 basis points last month, estimates gathered by Reuters say the Fed may be softer this month.
“The U.S. Federal Reserve will raise rates by 50 basis points in September amid expectations inflation has peaked and growing recession worries, according to economists in a Reuters poll,” the report detailed.
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