The euro is a risk currency, and the dollar is a safe-haven currency. The rise of the euro has brought about the decline of the United States. On the contrary, the rise of the United States brought about the decline of Europe.

The US dollar is the pricing currency, and it is still the same against all currencies in the world, and against the world's commodities (precious metals such as oil, grain and gold). The appreciation of the dollar led to the decline of all risky currencies (euro, pound, Australian dollar and Canadian dollar, etc.). ) and risky assets (futures, stocks, commodities and precious metals, etc.). ). The depreciation of the US dollar has brought about an increase in all risky currencies and risky assets.

Accurately speaking, the RMB exchange rate is set with reference to the fluctuation of the trade-weighted index (US dollar index) of the US dollar against a basket of currencies. When the dollar index rises (the dollar appreciates), the RMB depreciates against the dollar; When the dollar index drops (the dollar depreciates), the RMB will appreciate against the dollar. Because the euro accounts for a large proportion (57.6%) in the US dollar index, you can simply understand that the euro depreciates against the US dollar and the RMB depreciates against the US dollar; On the contrary, if the euro appreciates against the US dollar, the RMB will also appreciate against the US dollar.

Finally, the correct one is Euro/USD 1.2- 1.25. And the dollar will continue to appreciate. (According to analysis, the Federal Reserve did not have QE3 this year).