The euro is showing a record series of gains against the dollar, which could be the longest in the last two decades. On Tuesday, the currency rose to $1.1830, updating the maximum since September 2021 and having gained about 14% since the beginning of the year. If the day ends in positive territory, it will be the longest series of rises since 2004, second only to the two cases since the introduction of the euro in 1999. Two thirds of the options last week, according to the Depository Trust & Clearing Corporation, were aimed at further strengthening the euro. Analysts suggest that the currency may rise to $1.25 in the medium term, despite possible weakening against the yen and Asian currencies. ECB Vice President Luis de Guindos called the move to $1.20 «acceptable,» but noted that a significant strengthening of the euro could complicate the regulator's tasks, tightening financial conditions and affecting the economy. Nicholas Wall of J.P. Morgan believes that a strong euro is beneficial for Europe, especially against the backdrop of rising oil prices.
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