Since 2002, the American dollar has been decreasing in value against the euro, reaching a peak in devaluation in 2008.
In May 2008, a lot of Europeans were enjoying their cheap American vacations, this as a result of the euro raising above $1.60 for the first time ever.
The last few months, as the global financial crisis broke out, the dollar was finally gaining value against the euro. This trend would have continued, if it weren’t for the Fed lowering its interest rates, causing the euro to jump once again to a height of $1.43 today.
http://topics.nytimes.com/top/reference/timestopics/subjects/c/currency/dollar/index.html?scp=1-spot&sq=dollar&st=cse
Jasper Soete
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