Its basically just a “how many people currently want to buy a currency” vs “how many people want to sell it”
The Dollar is strong at the moment because the FED made it possible to get secure interest in dollar while you have to pay interest at the moment to HOLD euros. The EZB is always behind the FED in these changes so probably in some months the Euro will rise again due to being again interesting to be held because of the interest you can gain with it.
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