The euro is surging

The euro is climbing against the dollar again today, up 1.12% to $US1.0777 as of 1:15 p.m GMT (9:15 a.m. ET).

It’s now back to where it was about 10 days ago, interrupting the quick decline over the first 10 weeks or so of the year.

The euro spiked against the dollar when the Fed’s latest decisions came out, as the US central bank looked less likely to hike rates in June (which would typically strengthen the dollar).

As it stands so far, the euro’s depreciation bottomed out five days ago, below $US1.05. A lot of people are still expecting parity by the end of 2015.

Those hordes of American tourists ready to take advantage of the weak euro may have to wait a while longer.

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