{"id":1549344,"date":"2022-07-11T19:04:31","date_gmt":"2022-07-11T23:04:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1549344"},"modified":"2022-07-11T19:04:42","modified_gmt":"2022-07-11T23:04:42","slug":"euro-drops-to-20-year-low-approaches-parity-with-dollar","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/euro-drops-to-20-year-low-approaches-parity-with-dollar\/","title":{"rendered":"Euro drops to 20-year low, approaches parity with dollar"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuro-drops-to-20-year-low-approaches-parity-with-dollar%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1549344&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Karen Brettell<\/p>\n<p>NEW YORK (Reuters) \u2013     The euro slid to a 20-year low and came closer to parity against the dollar on Monday on concerns that an energy crisis will tip the region into a recession, while the U.S. currency was boosted by expectations that the Federal Reserve will hike rates faster and further than peers.<\/p>\n<p>The biggest single pipeline carrying Russian gas to Germany, the Nord Stream 1 pipeline, began annual maintenance on Monday, with flows expected to stop for 10 days. Governments, markets and companies are worried the shutdown might be extended because of the war in Ukraine.<\/p>\n<p>\u201cThe most proximate concern for markets is whether or not Nord Stream 1 is going to come back online,\u201d said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto, adding that \u201cthe markets will likely price in a recession\u201d for the region if it doesn\u2019t.<\/p>\n<p>The euro tumbled as low as $1.0051 against the U.S. dollar, the weakest since December 2002.<\/p>\n<p>The dollar index reached 108.19, the highest since October 2002.<\/p>\n<p>The U.S. currency has gained on expectations that the Fed will continue to aggressively raise rates as it tackles soaring inflation.<\/p>\n<p>\u201cThe Fed is going to raise rates more aggressively than most other developed market central banks and we don\u2019t think other developed market central banks really have the bandwidth to keep up,\u201d Rai said.<\/p>\n<p>The Fed is expected to lift rates by 75 basis points at its July 26-27 meeting. Fed funds futures traders are pricing for its benchmark rates to rise to 3.50% by March, from 1.58% now. < USONFFE=><\/p>\n<p>U.S. consumers see inflation rising further in the year ahead but expect a more moderate pace over the longer term in a signal that inflation expectations remain reasonably anchored, a survey from the New York Fed showed on Monday.<\/p>\n<p>Consumer price data due on Wednesday is this week\u2019s major U.S. economic focus. Economists polled by Reuters expect the index to show that consumer prices rose by an annual rate of 8.8% in June.<\/p>\n<p>(Graphic: Euro heads to parity towards dollar: https:\/\/fingfx.thomsonreuters.com\/gfx\/mkt\/akvezwzmrpr\/EURO1106.PNG)<\/p>\n<p>The Australian dollar was the worst performer on the day, falling to a two-year low on global growth fears. Multiple Chinese cities have adopted fresh COVID-19 curbs, from business halts to lockdowns, to rein in new infections, which could create new supply disruptions.<\/p>\n<p>The Aussie fell as low as $0.6716, the weakest since June 2020.<\/p>\n<p>In the cryptocurrency market bitcoin fell 1.62% to $20,519. <\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 3:00PM (1900 GMT)<\/p>\n<p>           Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid          <\/p>\n<p>                                                       Previous                   Change                              <\/p>\n<p>                                                       Session                                                        <\/p>\n<p>           Dollar index                 108.0000       107.0800    +0.87%         12.896%       +108.1900   +107.0700          <\/p>\n<p>           Euro\/Dollar                  $1.0063        $1.0186     -1.22%         -11.49%       +$1.0183    +$1.0051          <\/p>\n<p>           Dollar\/Yen                   137.2900       136.1250    +0.86%         +19.27%       +137.7450   +135.9850          <\/p>\n<p>           Euro\/Yen                     138.17         138.56      -0.28%         +6.02%        +139.1600   +138.1400          <\/p>\n<p>           Dollar\/Swiss                 0.9799         0.9766      +0.34%         +7.43%        +0.9842     +0.9738          <\/p>\n<p>           Sterling\/Dollar              $1.1897        $1.2032     -1.12%         -12.03%       +$1.2036    +$1.1868          <\/p>\n<p>           Dollar\/Canadian              1.2988         1.2939      +0.38%         +2.72%        +1.3051     +1.2945          <\/p>\n<p>           Aussie\/Dollar                $0.6742        $0.6856     -1.66%         -7.25%        +$0.6857    +$0.6716          <\/p>\n<p>           Euro\/Swiss                   0.9859         0.9943      -0.84%         -4.92%        +0.9949     +0.9856          <\/p>\n<p>           Euro\/Sterling                0.8458         0.8460      -0.02%         +0.69%        +0.8488     +0.8447          <\/p>\n<p>           NZ                           $0.6120        $0.6184     -0.99%         -10.54%       +$0.6192    +$0.6098          <\/p>\n<p>           Dollar\/Dollar                                                                                              <\/p>\n<p>           Dollar\/Norway                10.1750        10.0990     +0.81%         +15.56%       +10.2485    +10.1225          <\/p>\n<p>           Euro\/Norway                  10.2417        10.2836     -0.41%         +2.30%        +10.3261    +10.2379          <\/p>\n<p>           Dollar\/Sweden                10.6116        10.5083     -0.24%         +17.67%       +10.6473    +10.4768          <\/p>\n<p>           Euro\/Sweden                  10.6797        10.7050     -0.24%         +4.35%        +10.7381    +10.6766          <\/p>\n<p> (Additional reporting by Saikat Chatterjee and Dhara Ranasinghe in London; Editing by Tomasz Janowski and Jonathan Oatis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/euro-flirts-with-parity\/a-shopper-pays-with-a-ten-euro-bank-note-at\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6A0DY-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6A0DY-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/euro-flirts-with-parity\/file-photo-illustration-shows-u-s-dollar-banknotes\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6A00V-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6A00V-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Karen Brettell NEW YORK (Reuters) \u2013 The euro slid to a 20-year low and came closer to parity against the dollar on Monday on concerns that an energy crisis<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1549344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1549344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1549344"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1549344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1549344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1549344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1549344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}