LONDON, Aug 23 — The euro hit a fresh two-decade low today, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain.
But by 0820 GMT, the currency was still down 0.15 per cent at US$0.9930 and holding below the key US$1-level. Russia will halt natural gas supplies to Europe via the Nord Stream 1 pipeline for three days at the end of the month, the latest reminder of the precarious state of the continent’s energy supply.
The pound was dragged to a new 2-1/2-year low of US$1.1718, while the Japanese yen edged up to 137.24 per dollar after touching a one-month low of 137.705 earlier in the day.Elsewhere in Asia, China’s yuan fell to an almost two-year low of 6.8666 per dollar.