Should one invest their savings in dollars or euros? Why might investing in the European currency be more profitable than investing in the US currency? Experts have provided a set of tips for now.

Experts believe that the economies of the euro area show better signs of recovery than the United States, after the Corona crisis that struck the world this year.

Michael Zelzer, a market expert at BCS World of Investments, said that the European currency may at this point be more attractive to investors than the US currency when comparing the performance of the euro zone economy with the performance of the US economy.

He pointed out that the dollar index continues to decline against a basket of major currencies, reaching its lowest level in two years, and it continues to decline.

He added, "The dollar is not the best tool for preserving capital, against the backdrop of a large-scale monetary and financial stimulus program, and the enthusiasm of the US authorities to reduce their trade deficit."

The expert gave a stable outlook for the euro, pointing out that the euro may rise against the dollar above the level of 1.2, after considering the favorable conditions.

According to Bloomberg data, the dollar index reached 94.14 points, on Monday.

Source: "Novosti"

By:Nadeemy Haded