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The relative gains in the Euro are because the USD is weakening on account of economic data that did not live up to the expectations.That's because the US economy is still the strongest in the world. The euro countries is a basket case, because they have all lost control of their own economies.

In 2020, most banks forecast the Euro will gradually strengthen against the US Dollar. However, with the coronavirus pandemic hitting global economies, banks have adopted a "wait and see" attitude to updating forecasts, especially in the near-term.

It was the currency shot heard around the world. The irony is that many of these people moved their mortgages to the Swiss franc thanks to its safety and stability after the financial crisis of 2008.and because of lower interest rates, which can be found as low as 1.5%.

Why is the euro going to stay strong (and hit $1.16)? The euro could strengthen to $1.16 throughout 2020 thanks to an economic recovery in Europe, lower political risks, and no significant policy change from the European Central Bank, currency strategists at Nomura bank said in a research note.

Sweden does not currently use the euro as its currency and has no plans to replace the krona in the near future. Sweden's Treaty of Accession of 1994 made it subject to the Treaty of Maastricht, which obliges states to join the eurozone once they meet the necessary conditions.

The European Union (EU) consists of a group of countries that acts as one economic unit in the world economy. Its official currency is the euro; 19 of its 27 members have adopted the currency.

Lithuania joined the European Union in 2004 and adopted the euro on 1 January 2015.