EUR/USD analysis and forecasts: EU/US natural gas spread to push euro below parity?

Since the beginning of the conflict between Russia and Ukraine, Europe has been hit by its worst energy crisis in its history, with European (Dutch Title Transfer Facility) and American (Henry Hub) natural gas price differentials widening at all-time highs and the EUR/USD currency pair dangerously close to parity. According to the most recent CME Group data, US Henry Hub spot prices are currently trading at $57/MMbtu less than Europe’s Dutch TTF benchmark as of mid-August 2022. The link between EUR/USD and Henry Hub-TTF spread has increased significantly over the course of the summer, with the rolling 90-day