Time to book that long overdue trip to Italy, France or Spain?

The dollar is inching closer and closer to being worth the same as one euro. The last time that happened was 13 years ago.

So will the dollar really reach parity with the euro anytime soon?

And if so, what does that mean for consumers, businesses and investors?

Why the dollar has rallied

The dollar has surged against the euro -- and most other global currencies for that matter -- this year.

The U.S. Dollar Index, which measures the dollar versus the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc, is up nearly 10% so far in 2015.

The main reason? Economic conditions in the United States are better than Europe and Japan. The value of a nation's currency typically rises and falls along with its economy.