How Low Can The Euro Go? (Or Is That The Wrong Question?)

The euro is tanking again, as the ECB starts buying bonds for its long-promised “whatever it takes” QE program. Today’s exchange rate move is dramatic enough to generate headlines like this, from Forbes: Euro Nears Parity With U.S. Dollar
And the decline is accelerating:

What we’re seeing here is a brilliantly-fought currency war battle, i.e., an aggressive devaluation that will, in the coming year, give the incoherent mess that is the eurozone some much needed-breathing room in which to try to get its financial house in order.(more)
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