Euro briefly falls below parity with dollar for 1st time in 20 years

Economy

The euro briefly fell below parity with the U.S. dollar in New York on Wednesday for the first time in around 20 years, as investors sold the European currency amid fears that energy shortages stemming from Russia's invasion of Ukraine could trigger economic setback in Europe. Investors also rushed to shed the euro on the widening interest-rate differentials between Europe and the United States, traders said. The euro was quoted at $0.9998 at one point in the morning, making it less valuable than the dollar for the first time since January 2002. The U.S. Federal Reserve is expected to keep rai...

Kyodo News

Kyodo News