The euro reached $1.19 against the dollar, its highest level in over two years, sending European stocks lower. 

A stronger euro makes its exports more expensive and hurts European companies that rely on selling goods overseas.

Andres Garcia, CEO of ZoeFin.com said a surging euro can hurt the European stock story, but urges investors to take a long-term view.

The euro rose after European Central Bank President Mario Draghi failed to criticize the rising currency in his Jackson Hole speech on Friday.

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