TODAY
From 40m ago
07.29
Introduction: Euro hits two-decade low after gas
pipeline shutdown
Good
morning, and welcome to our rolling coverage of business, the world economy and
the financial markets.
The
financial markets are being rocked by the shutdown of Russia’s Nord Stream1
pipeline, as the energy squeeze on European economies intensifies as winter
approaches.
The euro
has fallen to a two-decade low in early trading this morning, after Russian
energy major Gazprom extended the shutdown of its gas pipeline to Germany on
Friday evening.
Fears over
sky-high energy prices, and possible shortages, pushed the euro further below
parity against the US dollar. sending the single currency as low as $0.9879
against the US dollar for the first time in two decades.
Nord Stream
1 was due to restart operations on Saturday morning, after a three-day shutdown
for maintenance. But Gazprom dashed hopes of a resumption on Friday night,
blaming a leak.
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