Posted BY: Wyatt | NwoReport

The Euro fell below parity against the U.S. dollar Monday, the second time it has happened in just over a month.

Morgan Stanley predicts the euro will drop to $0.97 this quarter, which has not happened since the early 2000s, Bloomberg reported. Strategists suggest the dip is just the beginning of a deeper descent into a difficult financial winter, the outlet noted.

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Nomura International Plc believes the market could be looking at a $0.95 level in October and subsequent months due to ongoing concerns over Europe’s energy future, Bloomberg continued. Deutsche Bank suggested back in July that this exact crisis could occur as the continent falls deeper into a recession, CNBC noted.

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