The reasons for the relatively weak euro have been analysed repeatedly. Essentially, it reflects the robust performance of the US economy. The euro is undervalued; it should recover substantially as the European economy improves and as familiarity with the currency increases. The current level of longterm bond yields confirms market expectations of continuing price stability in the euro area.
Large swings in currency external values are by no means a new phenomenon in the world order. In the  1  BIS Review 61/2000  mid-1980s the Deutsche mark was considerably weaker against the dollar than the euro is today. Within two years, this position was reversed.