Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Euro back below parity vs dollar again

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Aug 2022 13:49
2 Min Read

The Euro briefly dips below parity against a strong dollar during five-week trade lows.

  • x
  • Euro back below parity vs dollar again, gas crisis weighs.
    Euro back below parity vs dollar again, gas crisis weighs.

The euro briefly dipped below parity against the strong dollar on Monday and was trading at five-week lows, driven down by fears that a three-day stoppage in European gas supply later this month may deepen an energy crisis.

After Russia announced late Friday a three-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month, the euro bore the brunt of the selling pressure versus the dollar. The currency fell to as low as $0.99945, its lowest level since mid-July, and was last down 0.4% on the day.

"The euro's fair value has been damaged by the energy shock - meaning that euro/dollar is not especially cheap even at these levels," said Chris Turner, global head of markets at ING.

Bundesbank President Joachim Nagel explained that the German economy, which is among the most vulnerable to disruptions in Russian gas supply, is "likely" to enter a recession this winter if the energy situation worsens.

Read next: Euro falls to under $1 for first time since 2002

Related News

CNBC unveils strategic plan to revitalize Syria energy sector with US

Syria to sign deal to import electricity from Turkey, minister says

In numbers

The US dollar index, which measures the currency against six rivals including the euro, rose to 108.47 -- its highest since July 15.

It rose 2.33% last week, its largest weekly rise since April 2020, amid a chorus of Fed policymakers emphasizing the importance of doing more to rein in decades-high inflation.

Richmond Fed President Thomas Barkin stated on Friday that there is an "urge" among central bankers for faster, front-loaded rate rises. Money markets currently indicate 46.5% odds for another supersized 75 basis point rate hike at the Fed's next meeting on Sept. 21

Read next: Bank of England announces biggest interest rate hike since 1995

Economists in a Reuters poll lean toward a 50 basis-point increase with recession risks on the rise. Benchmark 10-year US Treasury yields briefly rose above 3% on Monday for the first time since July 21.

As yields came off their highs, the dollar edged down against the yen and was a touch lower on the day at 136.81.

Read next: In what direction is the euro heading?

  • Energy crisis
  • Dollar
  • Yen
  • Euro crisis
  • Euro

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS