The euro fell to -20year low and close to parity against The dollar on Monday on Fears that the energy crisis will overturn region in stagnation.
american currency, in Meanwhile, it was buoyed by expectations that the Federal Reserve will raise interest rates faster and more than its peers.
The largest single pipeline carrying Russian gas to Germany, the Nord Stream 1 pipeline, began annually maintenance on Monday, with The flows are expected to stop for 10 days.
Governments, markets and businesses are worried about the shutdown extended Because of the war in Ukraine.
‘Most Affinity Concern for Markets are whether Nord Stream 1 is coming or not back online said Biban Ray, from North America head of FX strategy At CIBC Capital Markets in Toronto, adding that “markets likely price in stagnation” for The region If not.
The euro fell to as low as $1.0051 against United State dollarthe weakest since December 2002.
The dollar The index reached 108.19, and highest Since October 2002.
US currency gained on Expectations that the Fed will continue to raise interest rates aggressively while dealing with rising inflation.
The Federal Reserve will raise interest rates more stronger than most others developed market Central banks and we don’t think otherwise developed market Central banks really have the bandwidth to keep up, Ray said.
The Fed is expected to raise interest rates by 75 basis points At the July 26-27 meeting. Fed fund futures traders quote for their standard rates to rise to 3.50% by March, from 1.58% now.
US consumers see inflation rising in addition to in The year forward but expect a more Moderate pace over The tallest term in a signal That inflation expectations remain Reasonably proven, a survey from the Federal Reserve Bank of New York showed on Monday.
consumer price data due on Wednesday is the main economic focus in the US this week. Economists polled by Reuters expect the index to reach show Consumer prices have increased at an annual rate rate of 8.8% in Jun.
Australian dollar It was the worst performance on Today, it goes down to two-year a little on global growth Fears. Many Chinese cities have adopted new COVID-19 restrictions, from business Stop closures, to rein in in new infection, which can create new supply disturbances.
The Australian dollar fell to a low of $0.6716, the weakest since June 2020.
in cryptocurrency market bitcoin It fell 1.62% to $20,519.
