The euro will drop below 1.20 against the dollar because EU’s problems will not be easy to solve, Dennis Gartman, author of “the Gartman Letter,” told CNBC Tuesday.
The euro “is having a rough month, it’s having a rough year… it’s probably going to continue to have rough times ahead. Are we going under $1.20? Almost certainly,” he added.
Gartman also said the price of oil is unlikely to recover. “It’s going down further, I believe… there’s plenty of oil above ground,” he said.
“I’m afraid that the economy is beginning to slow down a little bit… I think that’s beginning to put pressure on crude oil prices,” Gartman added.
