People walking past a sign with different exchange rates on July 06, 2022, in Poland. The euro was pinned at a 20-year low on Friday, licking its wounds at the end of its worst week in two months as investors braced for Europe to enter recession.
Artur Widak | Nurphoto | Getty Images
The euro was pinned at a 20-year low on Friday, licking its wounds at the end of its worst week in two months as investors braced for Europe to tip in to recession, while markets awaited U.S. jobs data to set the next direction for the dollar.
The euro is down more than 2% this week on fears that gas shortages loom in Europe and economic growth will suffer. It hit a two-decade trough of $1.0144 overnight and is barely clinging on above parity, last buying $1.0185.
The euro’s slide has vaulted the U.S. dollar index to a two-decade high of 107.270 this week, and the index was last just below that level and down 0.1% in Asia at 106.840.
“Europe is exposed to…
