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US dollar resilient, euro wallows at two-decade low on economy woes
The dollar held firm on Tuesday on safe haven flows, while the euro languished around a two-decade low as Europe confronts energy supply and broader economic growth concerns. The euro touched its lowest since late 2002 of $0.9926 overnight and was last barely higher at $0.9941. Russia will halt natural gas supplies to Europe via the Nord Stream 1 pipeline for three days at the end of the month, the latest reminder of the precarious state of the continent’s energy supply. Heatwaves in the continent have already put a strain on energy supplies and worries are growing that any disruption during the winter months could ... (full story)
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