EUR – The single currency tumbled on Wednesday, with EURUSD falling back below the 1.02 handle due to rising tensions between Europe and Russia over the Nord Stream pipeline and Russia’s invasion of Ukraine.
Russia’s warning to Europe of a potential 50% cut in daily gas flows through the Nord Stream pipeline is further “reinforcing worries that the euro zone economy is headed for a recession driven by an energy crunch,” according to Reuters.
Russia’s warning to Europe of a potential 50% cut in daily gas flows through the Nord Stream pipeline is further “reinforcing worries that the euro zone economy is headed for a recession driven by an energy crunch,” according to Reuters.
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