French Prime Minister Embraces Parity

By Marc Chandler On Jun 4, 2010

News wires report French Prime Minister Fillon claim that he only sees good news in the euro moving to parity to the US dollar only adds fuel to the current fire. This seems like malign neglect in contrast to the benign neglect the US is often accused of. The next key level is $1.20. This is not to suggest that the ECB should intervene, rather why add to an already volatile situation. As we have noted the pace of the euro’s decline had appeared to moderate in recent sessions, but this set the cat among the pigeons again.

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Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank. In addition to frequently providing insight into the developments of the day to newspapers and news wires, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. Marc appears often on business television and is a regular guest on CNBC and writes a blog called Marc to Market. Follow him on twitter.

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4 Comments

Abhishek says 14 years ago

Expect retaliatory actions and comments from countries already feeling the impact of the weakened Euro.The Euro parity would be devastating to some companies.
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