Last year, the euro crossed a psychological barrier in the financial markets after it plummeted below parity with the U.S. dollar and fell to its lowest level in about 20 years. From inflation to an energy crisis to recession fears, investors were ultra-bearish on the currency.
In the first few weeks of 2023, however, the euro has been building on the momentum that started in November. The euro has soared more than 10 percent in the past three months. Year to date, the euro has risen roughly 1 percent against the U.S. dollar.
