Throughout 2010 and into 2011, the fears of a weakening EU economy and a stronger US market caused the dollar to once again gain against the euro. The dollar’s rise was interrupted by periodic falls against the euro, as the ECB took measures to stabilize the eurozone. By December 2011 the USD to EUR conversion rate has climbed to €0.67.
By 2012, the economic downturn was firmly ingrained in the eurozone, weighed down by a handful of economies that were more prone to rising public debt. Stagnant growth, combined with the looming threat of deflation, further weakened the euro against the dollar. The crisis eased somewhat by the end of 2012, and the euro began to stabilise in response. However, the dollar’s value was still higher than it had been at the same time the previous year, finishing at €0.681.
Since 2013, continued economic weakness in the eurozone, political instability in Ukraine, and the most recent Greek debt crisis have further eroded the euro’s value against the dollar. The American economy, meanwhile, continues to improve. In 2014 economic output began to surge ahead, as consumer confidence increased and the employment rate ticked up. In 2015, the dollar’s value was at an 11-year high against the euro, and most forecasts predict that this rise will continue throughout the year.