Euro Hits 4-Year Low on Mistranslated French Comment

The euro fell to a fresh four-year low versus the dollar on Friday after the French Prime Minister Francois Fillon said he only saw good news in parity between the two currencies.

He used the French word “parite,” which can mean either “parity” or “exchange rate.”

Prime Minister Francois Fillon was referring to the general evolution of the exchange rate between the euro
[EUR=X  1.1975    0.0006  (+0.05%)   ]
and the dollar when he referred to the “parity” between the two currencies, a source close to the prime minister said on Friday.

Speaking at a news conference earlier, Fillon said: “I only see good news in the parity between the euro and dollar.

He later used the word “parity” in a different context to mean the general rate.

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