Euro Could Stay Below Dollar For As Long As Natural Gas Prices Remain High

The euro is on course to stay below parity with the US dollar for some time if gas prices do not fall markedly, a top Wall Street bank has said. The currency used by the 19 countries that make up the eurozone is set to drop to $0.94, according to Goldman Sachs. The euro last week closed a shade below parity with the greenback.

However, Goldman, in a note to clients over the weekend, predicted the currency could stay there for years if gas prices solidify above their historically low levels. “The euro area’s deteriorating external balance…