The answer to the headline question, at least on Monday, would be $1.2234, as the euro dropped to its lowest point in four years. As this CNN report puts it in somewhat startling terms, ” … Ongoing debt concerns prompted a flight to the safety of the U.S. dollar.”

This phenomenon also spelled trouble for the U.S. stock market, with the major indexes dipping in reaction to the euro’s plight. — KA

CNN Money:

What prices are doing: The dollar rose 0.1% against the euro to $1.2347. Earlier, the euro crashed through the key technical level of $1.23, falling to a four-year low of $1.2234.

The dollar rose 0.5% versus the British pound to $1.4467. It was up 0.1% against the Japanese yen at ¥92.53.

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