Euro Drops Below 0.99 For First Time In 2 Decades On Russian Gas Shutdown
The euro fell as much as 0.7 percent to a low of $0.9888 in afternoon trade in Asia on Monday, marking the first time the single currency has fallen below the $0.99 mark since 2002. The sudden drop below the limit came after Russia indefinitely suspended natural gas flows through the Nord Stream 1 pipeline, further curtailing Europe’s energy supplies and heightening risks of a recession in the bloc. State-owned Gazprom said the suspension was due to a technical error....