Not really, the Euro is still stronger, meaning that people are more interested in trading in Europe than the USA. I’d expect the weakness comes from Eastern Europe. Several countries in the region are ready to collapse, and businesses in those countries, expecting to join the Euro, took out foreign currency loans in Euros from banks in Western Europe. Their own currencies have slumped against the Euro, so the repayment sum is now ridiculous and they’re going bankrupt if they don’t get bailed out; their own countries can’t, so they’re looking for help from the EU. This issue is because of irresponsible behaviour on the part of West European banks who were competing with each other to loan to these countries in Euros. It’s bad, certainly, but nothing more than a blip.

Also, the dollar’s gained 0.04 euro cents since January. That’s not really significant.

The important point is that the US has real superpower competition in the form of the EU. The last competition they had (Russia) was a joke that magically managed to keep itself from economic collapse. The EU is such an economic power that it eclipses the US, and it does so whilst providing more benefits to people and in many countries providing free healthcare to everybody.

It’s too bad the Euro is being ditched in exchange for the dollar, isn’t it?

http://www.x-rates.com/d/USD/EUR/graph120.html