Euro Slips Below Dollar as Europe’s Economic Fortunes Slump

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The euro’s slide under parity with the U.S. greenback displays Europe’s sinking financial fortunes within the face of the conflict in Ukraine. However not like the final time the euro was this weak 20 years in the past, no person is coming to the frequent forex’s rescue.

One euro not too long ago purchased $0.9983, the frequent forex’s weakest stage since 2002. The euro has been on a steady decline this year, and the selloff intensified in current days as traders girded for Russia to enact a full-blown gas cutoff that many worry will drive the area right into a deep recession. Driving the euro even additional decrease on Thursday was a brewing political crisis in Italy.

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