As such, Draghi’s display of QE ankle on Thursday sent the single currency to a monthly low against the dollar. But the euro is still uncomfortably strong at around $1.37 (83p), compared with $1.50 back in 2011 when the eurozone’s systemic troubles began. That’s right, despite all the concern about monetary union in recent years – with the Eurocrats being forced to admit that, yes, those British nutters are right, the single currency could break up – the euro has actually risen. And that’s compounded the problems of “periphery” countries like Greece and Spain, making their exports more expensive.