Recesson Fears Grow In Europe As The Euro Declines And Inflation Grows

 

CNBC: Euro slides to 20-year low against the dollar as recession fears build 

The euro fell to its lowest level in two decades on Tuesday as fears of a recession in the euro zone ramped up, with gas prices soaring and the Ukraine war showing no signs of abating. 

The euro shed around 1.5% for the session to hit $1.0265 against the dollar, while the dollar index gained 1.29% to 106.49. 

Euro zone inflation hit a record 8.6% in June, prompting the European Central Bank to give markets advance notice of its intention to hike interest rates for the first time in 11 years at its July meeting.  

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Update #1: Euro Slumps to Two-Decade Low as Recession Fears Bite (Reuters)  

Update #2: European stock markets tumble on rising fears of recession (The Guardian)  

WNU editor: My European friends are telling me that the recession is happening now. I am not sure about that, but I am sure that if this happens, the EU will definitely be in a deep recession by fall .... Europe at risk of recession amid concerns Russia could cut gas supplies (The Guardian).