The euro fell on Monday, July 12, to par with the dollar for the first time in nearly 20 years.
This comes with growing fears of a recession due to the uncertainty in the energy sector and high inflation levels that warn of further interest rate hikes by the European Central Bank.
The euro has lost more than 11% of its value against the dollar since the beginning of 2022, hitting its lowest level in 20 years, amid fears of an economic recession.
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