According to the expert, the dollar is considered the currency of the world's first economy, respectively, the positions of other currencies are determined by the prospects for the economy of a particular state.
“At the moment, the Eurozone economy is rapidly plunging into recession, inflation requires an increase in rates, which the ECB cannot do, given the level of public debt of individual countries.
An increase in the ECB rate will almost automatically lead to a default by Spain, Italy, Greece, and France,” Deev said.
He explained that the European Union is forced to endure the weakening of its own currency due to the lack of tools to strengthen it in the current situation.
“To put it simply, the euro is weakening against the dollar as the Eurozone economy has a very negative outlook.
The euro-dollar currency pair reflects this, ”the interlocutor of RT specified.
Earlier, the euro fell below $0.9935 against the dollar for the first time since December 2002.