The euro rebounded on Tuesday after earlier sliding to a 20-year low and effectively reaching parity against the US dollar as investors worried that an energy crisis in the region will tip the economy into recession. The single currency reached $1.00005 against the greenback, the lowest since Dec. 2002, after data showed that German investor sentiment plunged below levels at the outset of the coronavirus pandemic in July due to energy concerns, supply bottlenecks and rate hikes from the European Central Bank. “For all intents and purposes, it effectively reached parity,” said Mazen Issa, senior FX strategist at TD Securities in New York The Aussie was last up 0.22pc at $0.6752, after earlier falling to $0.6712, the lowest since June 2020. The US dollar fell 0.55pc against the Japanese yen to 137.33, after hitting 137.73 on Monday, the strongest level in 24 years. In the cryptocurrency market bitcoin dipped 0.46pc to $19,858.
Months after a witty, holier-than-thou, jack-of-all-trades caretaker government retreated from the executive, repeated horrors from…
For all those hoping to see matured Pak-India relations enter a new chapter of normalisation,…
Narendra Modi is seeking the premiership of the country for the record third time. The…
The ASER 2023 report findings further indicate that the highest level of learning for Urdu…
Another major theme of the populists' strategy is to deliberately invoke hate and social schism…
Leave a Comment