Berlin (AP) The euro has hit a record high against the dollar in european trading today, peaking at nearly $1.51.
Europeans think the U.S. federal reserve is going to continue cutting interest rates.
The surging euro affects tourists, along with exports and imports.
Americans traveling in Europe are having to pay more for everything from hotel rooms to museum tickets to chocolates. At the same time, europeans coming to the U.S. are getting some really good deals for their money.
The higher euro also makes goods from the euro-zone more expensive for customers abroad. Either that or european manufacturers will have to give up some of their profits if they want to keep the U.S. dollar price of their products constant.
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