The euro and the U.S. dollar are exchanging at a nearly 1-to-1 rate for the first time in nearly two decades, when the European currency was in its infancy.
The euro has been losing ground against the dollar since the start of the year, when it hovered near $1.13, amid an aggressive inflation-fighting campaign by the U.S. Federal Reserve, along with broader global disruptions set off by the Russian invasion of Ukraine. As of Tuesday it stood near $1.0040 - just a hair above parity.