Euro

2022 - 7 - 13

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Image courtesy of "Reuters"

Euro teeters near parity vs dollar, hits new 20-year low (Reuters)

The euro fell on Tuesday almost to parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by ...

"There doesn't seem to be a lot of support for euro at this point. The global economy fears are undermining commodity prices and in turn commodity-focused currencies. But governments and markets are worried Russia might extend the shutdown, exacerbating the energy crunch and tipping the economy into recession. The biggest pipeline carrying Russian gas to Germany, the Nord Stream 1, began annual maintenance on Monday, with flows expected to stop for 10 days. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

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Image courtesy of "CNBC"

Euro teeters on the brink of parity with the U.S. dollar on recession ... (CNBC)

Fears of a recession have grown in recent weeks due to rising uncertainty over the bloc's energy supply, with Russia threatening to further reduce gas flows ...

Russia temporarily suspended gas deliveries via the Nord Stream 1 pipeline on Monday for annual summer maintenance works. "The ECB is in a very, very difficult position. - Russia temporarily suspended gas deliveries via the Nord Stream 1 pipeline on Monday for annual summer maintenance works.

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Image courtesy of "Bloomberg"

Euro Buyers Emerge in Last-Gasp Defense of Dollar Parity Level (Bloomberg)

The euro came within a whisker of parity against the US dollar before suddenly bouncing back, a sign of just how important the level is to traders.

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Image courtesy of "The Washington Post"

The euro is nearly equal to the dollar. Here's why it matters. (The Washington Post)

The euro and the U.S. dollar are exchanging at a 1-to-1 rate for the first time since the early years of the European currency's creation.

The euro and the U.S. dollar are exchanging at a nearly 1-to-1 rate for the first time in nearly two decades, when the European currency was in its infancy.

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Image courtesy of "Financial Times"

Euro's slide towards dollar parity reflects heavier hit from Ukraine war (Financial Times)

“The cumulative damage to the eurozone is already great,” said Brooks, a former currency specialist at Goldman Sachs. “Foreign exchange markets are leading the ...

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Image courtesy of "POLITICO.eu"

The euro faces its day of reckoning (POLITICO.eu)

But as finance ministers were endorsing the newest member of their club, the single currency slid towards a less welcome milestone: parity with the U.S. dollar.

“The Fed is still perceived as having more room to hike rates going forward, also on the back of the strong U.S. jobs report for June,” UniCredit foreign exchange strategist Roberto Mialich explained in a research note. It was a rapid slide, driven in part by a worsening outlook for growth in the euro area thanks to Russia’s invasion of Ukraine, and stronger demand for the dollar as a safe haven currency. It’s expected to lift benchmark rates by 25 basis points on July 21, when it holds its next policy meeting, and perhaps announce a bigger hike in September. There are advantages to a falling currency, namely that exports become cheaper and more attractive. On Tuesday, the euro briefly hit parity against the U.S. dollar for the first time in 20 years. As ever, not everyone will see it as bad news.

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