{"id":1618941,"date":"2022-08-22T12:09:07","date_gmt":"2022-08-22T16:09:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1618941"},"modified":"2022-08-22T12:09:19","modified_gmt":"2022-08-22T16:09:19","slug":"euro-back-below-parity-vs-dollar-again-gas-crisis-weighs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/euro-back-below-parity-vs-dollar-again-gas-crisis-weighs\/","title":{"rendered":"Euro back below parity vs dollar again, gas crisis weighs"},"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\">20<\/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-back-below-parity-vs-dollar-again-gas-crisis-weighs%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=1618941&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 Dhara Ranasinghe<\/p>\n<p>LONDON (Reuters) -The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows, weighed down by concern that a three-day halt to European gas supplies later this month will exacerbate an energy crisis.<\/p>\n<p>China\u2019s yuan dropped to its lowest in nearly two years after the central bank cut key lending rates. <\/p>\n<p>The dollar index, which measures the greenback against a basket of peers, hit new five-week highs as Federal Reserve officials reiterated an aggressive monetary tightening stance ahead of the Fed\u2019s Jackson Hole symposium this week.<\/p>\n<p>It was the euro that bore the brunt of the selling pressure against the dollar after Russia announced late on Friday a three-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month.<\/p>\n<p>The currency fell to as low as $0.99945, its lowest level since mid-July, and was last down 0.4% on the day.<\/p>\n<p>\u201cThe euro\u2019s fair value has been damaged by the energy shock \u2013 meaning that euro\/dollar is not especially cheap even at these levels,\u201d said Chris Turner, global head of markets at ING.<\/p>\n<p>Bundesbank President Joachim Nagel told German newspaper Rheinischen Post that the German economy, among the most exposed to disruptions in Russian gas supply, is \u201clikely\u201d to suffer a recession over the winter if the energy crisis continues to deepen.<\/p>\n<p>The U.S. dollar index, which measures the currency against six rivals including the euro, rose to 108.47 \u2014 its highest since July 15.<\/p>\n<p>It gained 2.33% last week \u2013 its best weekly rally since April 2020 \u2013 amid a chorus of Fed policymakers stressing that more needs to be done to rein in decades-high inflation.<\/p>\n<p>The latest was Richmond Fed President Thomas Barkin on Friday, saying the \u201curge\u201d among central bankers was towards faster, front-loaded rate increases.<\/p>\n<p>Money markets currently indicate 46.5% odds for another supersized 75 basis point rate hike at the Fed\u2019s next meeting on Sept. 21<\/p>\n<p>Economists in a Reuters poll lean toward a 50 basis-point increase with recession risks on the rise.<\/p>\n<p>Benchmark 10-year U.S. Treasury yields briefly rose above 3% on Monday for the first time since July 21.<\/p>\n<p>As yields came off their highs, the dollar edged down against the yen and was a touch lower on the day at 136.81 <JPY>. Earlier, the dollar reached its strongest levels against the yen since July 27.<\/JPY><\/p>\n<p>Sterling, meanwhile, fell to a new five-week low of $1.17875.   <\/p>\n<p>The dollar also rose as high as 6.8420 yuan in onshore trading for the first time since September, 2020 after the People\u2019s Bank of China cut the one and five-year loan prime rates, as widely expected. That came after it eased other key borrowing benchmarks in a surprise move last week.<\/p>\n<p>Against the offshore yuan, the dollar hit 6.8621, also the strongest since September, 2020.<\/p>\n<p>The commodity-linked Aussie gained 0.2% to $0.6885 \u2013 rebounding after a slide to $0.68595 on Friday for the first time since July 19 \u2013 as Dalian iron ore rallied more than 2% and copper also rose. The kiwi advanced 0.3% to $0.6190.<\/p>\n<p> (Reporting by Dhara Ranasinghe; Additional Reporting by Kevin Buckland in Tokyo, editing by Ed Osmond)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740083\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L07C-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L07C-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740084\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L018-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L018-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dhara Ranasinghe LONDON (Reuters) -The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows, weighed down by concern that a<\/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-1618941","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\/1618941","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=1618941"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1618941\/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=1618941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1618941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1618941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}