The euro fell to its lowest level in two decades on Tuesday as fears of a recession in the euro zone ramped up, with gas prices soaring and the Ukraine war showing no signs of abating.
The euro shed around 1.5% for the session to hit $1.0265 against the dollar, while the dollar index gained 1.29% to 106.49.
Euro zone inflation hit a record 8.6% in June, prompting the European Central Bank to give markets advance notice of its intention to hike interest rates for the first time in 11 years at its July meeting.
However, growing fears of a recession may limit the central bank’s capacity to tighten monetary policy. The July Sentix Economic Index on Monday showed investor morale across the 19-country euro zone has plunged to its lowest level since May 2020, pointing toward an “inevitable” recession.
More: Euro zone inflation hits record 8.6%
A reader suggestion: Euro vs Ruble
No mention of how it’s doing against the ruble? Why am I not surprised?
Are they now reconsidering laughing at their friends while trusting their enemies?
You mean the Ruble that you cannot trade anywhere for the posted rate?
Pooooteeeen propagaaaaanda! I have proof direct from MSNBC, CNN and WaPo!
C I
I have a better source for my info, The rectum…ERM, colon told me so!
Scarp that down wood jah!
“… as long as it takes” – Joe ‘tough guy’ Biden … and ‘true conservative’ Colonista, et al
This is the rich socialist/fascist ruling class/political class/media cartel complex doing it by design.
Then the socialists/fascists get control over the masses.
It will be interesting to see how they get rid of the surplus (in their view) population.
No fuel, no food, what else can go wrong before the masses get up and throw the suckers into the ocean or something.
Vito
Or run them over with farm tractors!
Hungry people are desperate people and that fact has precipitated many wars that have occurred for centuries. This time won t be any different, when people are faced with imminent starvation of themselves and their families then fear disappears when faced with their inevitable demise. So if I am going to die soon I will take as many of those elitist bastards with me as possible. Justin however will be hiding in an undisclosed location as usual yellow commie that he is.
I’m betting this “slide” has more to do with a potential Blockade of the port of Rotterdam amid the growing unrest in the Netherlands… and that shit is escalating BIG time. Shots fired at tractors yesterday..!! It wont be long before the molotovs start flying…
Once again: Mr Putin, kindly send one (or more), of your Hypersonic Missiles to Davos and take out the WEF & GAVI – a 2 for 1 Sunday punch…if you please. The planet will remember what/who/why.
oh, and another one aimed at a full sitting of the EU parliament….?? just to be sure the message resonates.
The Canadian dollar and markets did the same thing. The Spawn-Fuhrer is, after all, part of the Davos crowd.
Now that even the most brain-dead Keynesians realize that a recession is inevitable, the rush to cash has been triggered. Cash meaning the U.S. dollar. Gold selling off due to a need for liquidity to pay up on a lot of leveraged bets that have suddenly gone the wrong way.
We’re just getting started.