Euro Slips Towards Two-Decade Low as High Gas Prices Adds to Growth Fears
LONDON—The euro was within a whisker of a two-decade low on Wednesday amid growing recession fears fuelled by a possible energy supply crunch, while the U.S. dollar recouped some data-inspired losses after Tuesday’s softer-than-forecast data.
Disappointing U.S. services and manufacturing surveys released on Tuesday and a plunge in new home sales saw the dollar take a breather, after a run that pushed the U.S. currency to its strongest level against the euro in two decades.
But Europe has its own growth concerns, stemming from its greater exposure to Russian gas supplies as the region seeks to refuel ahead of winter….