Euro trades at two-decade low against U.S. dollar

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Euro trades at two-decade low against U.S. dollar

STORY: Euro trades at two-decade low against U.S. dollar DATELINE: Aug. 24, 2022 LENGTH: 0:02:00 LOCATION: LYON, France CATEGORY: ECONOMY SHOTLIST: 1. various of euro and U.S. dollar notes STORYLINE: The euro traded at a two-decade low of 0.9903 against the U.S. dollar Tuesday morning. Since the start of the year, the euro has lost around 12 percent against the dollar. "The euro's fair value has been damaged by the energy shock," said Chris Turner, global head of markets at the global financial institution ING. The prospects of a possible gas crisis clouded the eurozone, said German newspaper Handelsblatt, adding that investors remain concerned about the decision by Russian energy giant Gazprom to halt natural gas supplies to Europe via the Nord Stream 1 pipeline during the maintenance between Aug. 31 and Sept. 2. Another reason for the euro's renewed weakness is the interest rate policy of the U.S. Federal Reserve (Fed), according to the German public broadcaster ARD. Several investors currently

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