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Donald Trump’s electoral upset has breathed new life into the bet that diverging economic paths will drive the euro toward parity with the dollar for the first time since 2002.

Traders see about a 45% chance the European currency will sink to $1 in the next year, about double the probability assigned a week ago, data compiled by Bloomberg show. The president-elect’s pledges to boost spending and cut taxes are fueling speculation that economic growth will accelerate, pushing the Federal Reserve to raise interest rates more quickly. That sentiment sent a gauge of the dollar to the strongest since February on Monday, while the euro fell to about $1.07, touching its lowest since 2015.

 

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