Euro down, tech goods up Posted on 12/09/2008 at 15:49 by Marc
The euro has been falling against the dollar for the last three weeks. On July 21 it was at $1.59 and has now dropped to $1.42. Although a strong euro is not good for exports, it does have a significant impact on lowering prices in the tech sector.
Tech products are not of course produced in the euro zone and a strong euro was therefore exerting downward pressure on prices. With the sudden dollar surge of the last few weeks, these goods have become much more expensive to import and there is bound to be an impact on prices before too long.
With exchange rates at their current levels roughly a 10% rise is to be expected, but given current market volatility, who’s to say what the future €/$ rate will be.
The euro has been falling against the dollar for the last three weeks. On July 21 it was at $1.59 and has now dropped to $1.42. Although a strong euro is not good for exports, it does have a significant impact on lowering prices in the tech sector.