Euro At The Verge Of Breaching Parity, Stocks Slide Again

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The euro has been particularly vulnerable given the impact of an ongoing spike in natural gas prices on the regional economy and the war in neighboring Ukraine, and with the European Central Bank behind rivals in raising interest rates.

By 0725 GMT, the euro was down 0.3% at a low of $1.0004, its weakest in more than 20 years.

The dollar index gained 0.3% to 108.48, while sterling hit another two-year low and the yen was not far off its weakest in more than two decades.

A high inflation reading would add pressure for the Fed to step up its already aggressive pace of interest rate increases.

In equity markets, the Euro STOXX (.STOXX) dropped 0.7%, while German’s DAX (.GDAXI) was off 0.8% and Britain’s FTSE 100 (.FTSE) by 0.44%.

– Reuters

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