Fears of an energy crisis in Europe have pushed the euro to its lowest level in 20 years against the dollar. On Monday morning, the European single currency fell to $0.9881, its lowest level in nearly 20 years. The last time a euro cost less was at the end of 2002.
The European Central Bank (ECB) set the benchmark interest rate on Friday at $0.9993 (Thurs: $1,0004). In New York, the euro traded at $0.9967 around 9 p.m. Friday.
The euro has been weighed down by the uncertain supply of natural gas for some time now.
Over the course of the day, investors should also keep an eye on euro-zone economic data. The purchasing manager indexes for the service providers are published. The US is largely silent due to a holiday.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
