To get an expert opinion on the topic the "Mad Money" host turned to Carley Garner—technician, co-founder of DeCarley Trading, and author of "A Trader's First Book on Commodities" and colleague of Cramer's at RealMoney.com.
"When the euro is weak versus that dollar, that makes it much harder for U.S.-based international companies to compete with European ones, especially in Europe itself. With a weak euro, all of the profits that our multinationals make in the euro zone translate back into fewer dollars," Cramer explained.
In fact, it wasn't that long ago that experts thought that the euro and dollar would reach a 1-to-1 exchange rate. And it really seemed like that would happen a few months ago, until the rate hit $1.04 and never went below that level. But just because the currencies didn't reach parity back in March doesn't mean it couldn't happen.
Garner pointed out that ever since the euro bottomed back in March, bearish sentiment has been growing and many think that the currency is set to plummet any minute now.
Everyone except for Garner, that is.
"She believes the euro is going higher, and anyone who thinks it's richly valued is just kidding themselves," Cramer added. (Tweet This)