26 days ago • Posted by Paul de La Baume
#Euro sinks on gas shortages #forex #EURUSD #EUR #trading #trending
Gas prices surged more than 30% on Monday after Russia announced late on Friday it will keep its main gas pipeline to Europe shut. European policymakers are debating ways to curb demand and prevent an energy crisis. The euro fell more than 1% from trading above parity with the dollar, to reaching less than 0.99 at one point on Monday. On the positive, Europe is already important gas from the US and partners and has shown resilience in finding ways around energy shortages such as filling its reserves in anticipation of next winter. Nonetheless, economists worry the surge in energy prices could throw the European continent in recession.