The relative response to the coronavirus pandemic by the Eurozone and US combined with US election uncertainty are pushing down the USD to EUR exchange rate in the second half of 2020.
The USD experienced a sell-off in early November as investors moved away from the safe haven of the dollar and into riskier assets, off the back of Biden winning the presidential election and the positive news of COVID-19 vaccine testing.
Increasing lock-downs in Europe due to second-wave coronavirus outbreaks combined with potential trillion dollar US stimulus spending has Commerzbank predicting short term US dollar strength against the Euro. However longer term they see that increase in US government debt proving a drag on USDEUR.
The Euro enjoyed gains off the back of recent USD sell-off but the economic outlook for the bloc continues to be of concern. Economists have warned that the fresh round of COVID-19 restrictions imposed could plunge the bloc back into contraction for the final quarter of the year. November Currency Update
Note that forecasts and predictions for the USD/EUR exchange rate change all the time, affected by news events and relative sentiment towards the US and Eurozone economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coranavirus pandemic.
You can read about other USD exchange rate forecasts here USD Trends and Forecasts for 2020.
This is a difficult question and the answer really depends on many factors. The best way to consider the current USD-EUR relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
25 Nov 2020
|1.6% ▼||1 Week|
02 Nov 2020
|3.9% ▼||30 Days|
03 Sep 2020
|2.3% ▼||90 Days|
03 Dec 2019
|8.5% ▼||1 Year|
04 Dec 2015
|10.2% ▼||5 Years|
05 Dec 2010
|10% ▲||10 Years|
USD/EUR 10 year historic rates & change to 02-Dec-2020 : 0.8254