According to AFP, the euro was being dragged down by energy
tensions in Europe and the strength of the dollar, which benefited from a more
aggressive monetary policy by the US Federal Reserve (Fed).
At around 10:15 am in Lisbon, the euro dropped to USD
1.0311, 1.07% less than at the close of Monday.
This is great for Portuguese and Euro area exports. It is about time the Portuguese sell products and services muc more expensively.
By Diogo F. from Madeira on 06 Jul 2022, 23:42
This is great for anyone who gets paid in dollars, and lives in Portugal, or any eurozone country. It's also good for Portuguese exporters who sell their products in the US. This is a mini jackpot for remote workers from the US.... a federal tax exemption on a large portion of income, plus an incredibly strong dollar along with the low cost/high quality of life in Portugal. Glad I relocated here.
By Robert from Lisbon on 09 Jul 2022, 12:11