The Value of the Euro has fluctuated in recent times with more money leaving eurozone financial markets in 2016 than at any time in the bloc’s history.
This development has helped drive the euro toward parity with the dollar for the first time in 14 years. The euro EURJPY, -0.04% was at ¥122.44 from ¥122.37 late Tuesday.
The eurozone had its largest-ever net outflows in the 12 months to September, data from the European Central Bank showed Tuesday.
Eurozone investors bought €497.5 billion ($516.5 billion) of financial assets, such as stocks and bonds, outside the bloc in that period. Global investors, meanwhile, sold or let mature €31.3 billion of eurozone assets during the year.
Together, that adds up to a net outflow of €528.8 billion, the most since the single currency was introduced in 1999.
Late Tuesday in New York, the euro was at $1.0388, its lowest level since January 2003, compared with $1.0403 late Monday.
Many analysts now believe that the common currency will hit parity with the dollar next year. The euro has been sliding against the dollar since Donald Trump’s election victory spurred predictions of higher U.S. interest rates.
